ATLANTA — Food prices have shot up in the last year, creating a lot of the inflation that exists today. Many people are feeling the pinch at the grocery store.
With overall inflation at 9.1% per the Consumer Price Index, food prices are driving the rate not seen for more than 40 years. Meat prices have gone up considerably. Shoppers are likely paying 6 percent more for beef than a year ago. Consumers will shell out 16 percent more for eggs and 7.5 percent more for cereal.
As a result, several customers told 11Alive that they are changing their buying behavior by shopping around to find the best deals and abandoning brand loyalty to buy a cheaper, more generic product to save cash.
11Alive's Joe Ripley did some price comparison shopping at Publix and Lidl to see how much money could be saved on staple items. He spent just over $40 at Publix and $37.50 at discount grocery store Lidl. However, Lidl carried more generic brand products and bought more food for less money.
He found some deals at Publix, especially on name-brand items, but popular products like peanut butter were sold out of the store brand. It's a sign buyers are becoming more comfortable with buying the store brand over name brand items. Eggs, meantime, were half the price at Lidl as they were at Publix. He was able to find bigger portions of lunch meat, beef, cereal and goldfish crackers for less money at Lidl as well.
Premium brands can cost three to four times store brand for the same amount, and sometimes it can be difficult to compare prices between name brand and store brand. That's when the price per ounce really comes into play. Buying in bulk typically saves the shopper money, meaning their dollars go a lot further. Budgeting and planning out meals can also save shoppers money at the store.
Consider cooking over eating out, because that can save money in the long run. While eating at a restaurant can involve tipping and other costs, cooking could build up fatigue and one could spend more on energy, prepping and cleanup costs. It all comes down to tradeoffs.