Inflation Is Fading, but Food Costs Remain High. Here Are 3 Ways You Can Save

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Although inflation has been cooling, it’s still expensive to buy food. Read on for tips to lower your costs. 

As a mom of three kids, one of the biggest expenses in my household is, not surprisingly, food. And even though I make a point to go grocery shopping every week (usually, multiple times a week, in fact), it seems like every time I open the fridge, there’s nothing to eat.

As such, I’m constantly charging food on my credit card. And while I have been seeing some lower prices at the supermarket than earlier in the year, groceries are still pretty darn expensive.

And that’s not just in my neck of the woods. In August, grocery prices were up 3% on an annual basis, as per that month’s Consumer Price Index (an index that measures changes in the cost of consumer goods and services). So even though inflation has been cooling on a whole, it happens to be that one of my largest household expenses is still notably elevated.

That’s why I’ve been trying to take steps to save money on food whenever possible. Here are some tactics you may want to try.

1. Take advantage of your Costco membership

Some people are afraid to do a lot of bulk buying at Costco because they’re worried about wasting food — and money. But the reality is that if you buy the right items in bulk, you can lower your costs without having to stress about food waste.

Let’s say your kids need a daily snack to take to school. Packaged snacks like pretzels, popcorn, and chips tend to have a pretty long shelf life. Even if you buy a few bulk packages for variety, you’re likely to land in a situation where you can use up your haul before anything expires.

Perishables are a different story, though. You might think it’s a good idea to buy bulk meats and vegetables from Costco. But if that’s new to your routine, ease in slowly. Buy one perishable item in bulk to start with and see if you’re able to use it up before going all-in on bulk buying.

2. Buy non-perishables at your local dollar store

There may be certain household staples you really don’t need in bulk. You could buy those at your local grocery store, but they might be cheaper at your local dollar store. It pays to scope out the inventory there and see if you find items you use regularly.

That said, sometimes the prices you’ll see at the dollar store can be comparable to those at the supermarket. Only your local grocery store might have a better range of expiration dates, so be mindful of that detail.

3. Become a couponer

Some people take the concept of collecting coupons to an extreme, spending hours upon hours each week seeking out deals. But if you work or have responsibilities like running a household, you probably don’t have time for that. And that’s okay.

What I tend to do is spend two minutes each week reading the physical circular from my go-to supermarket and clipping any coupons it contains that are useful to me. I’ll then spend another three to five minutes looking for digital coupons online to load to my store card.

It’s not a huge time investment, but it has, in recent weeks, saved me $3 here or $5 there on my groceries. And over time, small savings like that add up nicely.

Although it’s good to see that inflation levels aren’t as high as they were a year ago, it’s still expensive to put food on the table. But these tips have helped me lower my grocery bills, so hopefully they’ll do the same for you.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Maurie Backman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

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