Elena
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High
inflation
is
subsiding,
but
many
Americans
have
yet
to
see
relief
from
elevated
prices
at
the
grocery
store.
“Grocery
prices
skyrocketed
during
the
pandemic,
and
in
many
cases,
they’ve
kept
going
up,
even
though
the
pandemic
is
over,”
Sen.
Elizabeth
Warren,
D-Mass.,
said
at
a
Wednesday
Senate
hearing.
Shoppers
may
be
infuriated
to
find
certain
grocery
products,
such
as
a
pound
of
chicken
breasts
or
a
loaf
of
bread,
go
up
from
one
week
to
the
next,
Warren
said.
And
they
may
be
frustrated
to
find
other
products,
such
as
a
box
of
cereal
or
a
package
of
spaghetti,
come
with
fewer
servings
for
the
same
price,
she
said.
That
trend
is
known
as
shrinkflation.
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College
pays,
but
outcomes
for
workers
without
a
degree
are
improving
Lawmakers
debate
whether
child
savings
accounts
can
reduce
wealth
inequality
Lawmakers
are
divided
on
what
has
prompted
those
elevated
prices.
“Grocery
prices
are
up
because
of
good
old-fashioned
corporate
price
gouging,”
Warren
said. “And
they
can
gouge
consumers
on
prices
because
there’s
only
a
small
number
of
companies
controlling
every
level
of
the
food
chain.”
Sen.
John
Kennedy,
R-La.,
blamed
government
spending
under
President
Joe
Biden.
“When
you
spend
this
kind
of
money,
you’re
going
to
have
inflation,”
Kennedy
said.
A
recent
Harris
poll
found
that
almost
3
in
5
Americans
think
the
country
is
in
an
economic
recession
—
even
though
it
is
not
—
with
inflation
a
top
concern.
“Inflation
is
coming
down,
but
prices
remain
elevated,”
said
Mark
Hamrick,
senior
economic
analyst
at
Bankrate.
“As
long
as
prices
are
elevated,
that
means
that
affordability
challenges
persist.”
Where
consumers
may
see
signs
of
relief
One
measure
of
inflation,
the
consumer
price
index,
shows
the
food
index
was
flat
in
April
compared
to
the
prior
month.
Yet
over
the
past
12
months,
food
was
up
2.2%.
Certain
categories,
such
as
apples
and
eggs,
have
declined
over
the
past
year.
Other
items,
such
as
juices
and
drinks
and
beef
roasts,
are
up.
“I’m
seeing
a
little
bit
of
a
light
at
the
end
of
the
tunnel,
where
it
seems
like
the
prices
for
some
items
are
decreasing
or
flattening,”
said
Trae
Bodge,
a
smart
shopping
expert
at
TrueTrae.com.
Still,
for
some
households,
the
long-term
higher
food
prices
may
be
leading
to
financial
stress.
New
research
from
the
Urban
Institute
shows
Americans
may
be
saddled
with
debt
after
turning
to
credit
cards,
buy
now
pay
later
programs
and
payday
loans
to
pay
for
groceries.
watch
now
Food
insufficiency
—
where
households
sometimes
or
often
do
not
have
enough
to
eat
—
is
more
prevalent
for
families
with
less
than
$50,000
in
income
and
Black,
Hispanic,
disabled
and
younger
adults,
as
well
as
parents
living
with
children
under
18,
a
recent
Federal
Reserve
well-being
survey
found.
Some
brands
are
stepping
up
their
efforts
to
make
food
more
affordable.
This
week,
Target
announced
plans
to
lower
prices
on
about
5,000
items,
including
bread,
fruit,
vegetables,
milk
and
meat.
As
fast
food
prices
rise,
McDonald’s
and
Wendy’s
are
also
adding
lower-price
options
to
their
menus.
How
to
save
money
on
groceries
To
get
the
most
out
of
grocery
store
trips,
experts
say
it’s
best
to
have
a
strategy.
“It’s
a
good
opportunity
to
create
smart
shopping
habits,”
Bodge
said.
Where
possible,
consumers
can
shift
their
purchasing
habits
—
to
eat
at
home
rather
than
dine
out
or
buy
chicken
instead
of
beef
—
to
limit
the
effects
of
rising
costs,
Hamrick
said.
“There
is
a
range
of
opportunities
to
make
choices
and
to
substitute
at
lower
prices
and
to
get
better
value,”
Hamrick
said.
Visiting
different
retailers
—
both
in
person
and
online
—
may
help
to
capitalize
on
sales
and
find
the
best
value
available.
If
a
store
has
a
loyalty
program,
sign
up
for
it
to
make
sure
your
purchases
are
eligible
for
discounts
or
rewards,
Bodge
said.
Switching
over
to
store
or
generic
brands
can
also
provide
meaningful
savings.
Buying
products
in
bulk
may
help
save
up
to
40%,
she
said.
Certain
websites
and
apps
help
make
shopping
more
efficient.
Coupon
sites
like
CouponCabin
may
provide
discounts
for
ordering
groceries
online.
Flashfood
may
provide
alerts
to
deals
on
overstocked
grocery
items.
Martie
also
provides
offers
on
deeply
discounted
items.
“If
you
combine
all
of
those
things,
you
can
save
significantly
on
your
groceries,”
Bodge
said.
The
method
of
payment
at
the
checkout
counter
may
also
lead
to
more
savings,
specifically
concerning
cash-back
rewards
through
credit
cards,
she
said.
To
effectively
use
those
perks,
it’s
important
to
maintain
a
balance
you
can
pay
off
each
month.
