Food Costs Are Still Up 4.7% at the Supermarket. Here's How to Spend Less

Inflation has been cooling steadily since the start of 2023, and that's brought consumers some financial relief. But the reality is that the cost of groceries is still quite elevated despite that cooldown. In fact, as of June, the cost of groceries was up 4.7% on an annual basis, as measured by that month's Consumer Price Index.

The good news, though, is that with the right strategy, you can do your part to save money at a time when food costs are high. Here's how.

1. Choose lesser-known or store brands

If you've ever walked the aisles of a store like Aldi, you may have noticed that they're loaded with products made by brands you've never heard of. But you may have also noticed that they're cheaper than the brands you'd normally buy.

Even if you don't shop at a discount grocery store like Aldi, you may find that your local supermarket has lesser-known or store brands on its shelves. Before you write those off, consider giving some of them a try.

Major brands tend to spend a lot of money on packaging and advertising, but that cost tends to get passed along to consumers. So opting for store brands, or brands you don't know so well, could leave you spending less.

If you're taking a chance on brands you don't know, though, you may want to stick to items that are hard to ruin, so to speak. For example, a brand you're not familiar with might produce a pasta sauce you don't enjoy. But if you're buying plain dry pasta to cook at home, you can probably scoop up any old brand.

2. Plan your meals weekly according to what's on sale

You'll often hear that planning your meals in advance is a good way to save on groceries. But meal planning alone isn't enough.

What you really need to do is plan your meals in conjunction with what's on sale at the store. If your kids love meatballs, and ground beef is being offered at a discount, that's a good time to plan for that meal (along with a batch of generic noodles, perhaps).

3. Buy in bulk when doing so makes sense

Buying in bulk will often save you money on the items your household tends to consume a lot of. But you'll need to be careful when buying in bulk, because if you purchase items with a short expiration date, you might end up throwing some of your haul away due to it going bad on you.

For example, say you decide to purchase spinach in bulk. Those greens might only last for a few days before they start to wilt. So unless your family is willing to eat spinach every day, it may not be the best item to purchase in mass quantities.

While it's good to see that consumers are getting some relief from inflation, many costs remain elevated, and food is one of them. But if you make these moves, you might limit your grocery spending and give your personal finances a break at a time when food is still fairly expensive.