Your trips to the grocery store are expected to get more expensive, according to the latest Consumer Price Index figures.
This year, food-at-home prices are expected to increase between 3% and 4%. Food-away-from-home prices are predicted to increase between 5.5% and 6.5%. Price increases for food away from home are expected to exceed historical averages and the inflation rate in 2021.
Recommended Videos
Read: How to save money at the grocery store as food prices soar
- All food prices expected to increase between 4.5% and 5.5%.
Tips for saving money at the grocery store
CNBC shared a report with five tips to help consumers save money on groceries:
Use a cash-back app: CNBC suggests using Ibotta and Checkout 51, as they are two of the most popular apps for earning cash back at the store. On top of that, I’d recommend using the app of the store you’re shopping at -- for example, Kroger and Meijer, both have apps. Through the Kroger app, you can scan an item right in the store and see if a coupon is available for that item.
Plan your meals: CNBC recommends planning your meals before you go to the store so you’re not buying things spur-of-the-moment that you don’t really need.
Buy store brands: Generic brands can be cheaper and just as good quality. CNBC suggests trying a few generic brands each time to see if you wouldn’t mind switching to save a little money.
Shop strategically: With some items you can save money buy buying in bulk or choose frozen instead of fresh, according to CNBC.
Pay with the right card: CNBC suggests using the credit card that gives you the most back on groceries, or even invest in a new grocery rewards card.
Read: AAA: Michigan gas prices down 10 cents from last week, still above $4
Consumer Price Index predictions
Click here to read more consumer coverage.