Consumers resort to 'creative' strategies to stretch food budgets as grocery prices continue to increase - Fox Business
Consumers resort to 'creative' strategies to stretch food budgets as grocery prices continue to increase - Fox Business

As grocery prices rise, consumers are getting creative with their food budgets to make them stretch further

The rising cost of living has led many Americans to find creative ways to save money on food. According to the Bureau of Labor Statistics, consumer prices rose 3.1 percent from January 2023 to January 2024, leaving the average U.S. household needing to pay $213 more a month to purchase the same goods and services as they did one year ago. This has put a strain on many families’ budgets, leading them to make changes in their spending and eating habits.

For example, Sarah Smith, 54, shared how she and her husband have started making simpler meals from canned goods instead of their usual elaborate homemade meals made with fresh herbs and premium ingredients. Similarly, Alexandra Blom and her husband Jason have started buying more in bulk and purchasing less organic produce and locally sourced meat and eggs for their family of four. They are now eating more simple meals made with lentils, beans, and rice that can be stretched over several days.

Nancy Randall has managed to cut down her family’s spending by 30% per person by relying more on consuming the deer they hunt and the fish they catch, rather than buying meats at the grocery store. Similarly, Bernard Brothman has saved hundreds of dollars in grocery bills by growing more than a dozen crops in a community garden and teaching his grandchildren how to grow their own vegetables.

Kathleen Glindmeier plans her grocery store trips for when her local grocery store holds its monthly senior discount day and has traded eating out at restaurants for holding potlucks at each other’s houses. These are just a few examples of the ways in which Americans are trying to cope with the high food costs squeezing their pocketbooks.

Overall, Americans are paying on average $605 more each month compared with the same time two years ago and $1,019 more compared with three years ago. The continued inflation has led to President Biden taking aim at grocery stores, blaming them for “ripping people off” with high pricing. Despite these challenges, Americans are finding ways to adapt and become more creative in managing their food budgets.

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