While inflation is beginning to moderate, Americans are still feeling its impact – especially at the supermarket. Trae Bodge, founder of TrueTrae, joined TheStreet to share some tips on how consumers can save at the checkout line.
Transcript:
CONWAY GITTENS: We did get some data recently showing that not that grocery prices are coming down, but the rate of inflation, grocery prices is slowing a bit. Where do you see grocery prices going as we head into the second half of the year?
TRAE BODGE: So I am seeing a little bit of a break. But they’re up almost 25% in the last four years. That is deeply impactful for families on a budget, which is most of us. So we have to be very strategic about how we’re looking to save. If you’re not doing it already, you should be buying store brands or generics. Just check the ingredient listing. Make sure it’s the same ingredients from your favorite brand to that store brand. And many times they’re made in the same factory and they’re the same products. Ultimately use loyalty programs, buy in bulk like we talked about, look for ways to save online. Those are all the strategies we should be using to save on those groceries.
CONWAY GITTENS: And we’ve noticed some headlines around beef prices being high. This is like barbecue season. Yeah what kind of tips do you have for the barbecue?
TRAE BODGE: Yeah, that’s a little bit tricky. I mean, if you’ve got a sector that’s high like that, there aren’t that many ways to save. And I certainly wouldn’t say, you know, buy more than you need in bulk and then store it because then it gets freezer burned. And so I say kind of mix it up a little bit, you know, buy that your favorite steak and then maybe look at another meat that’s a little bit more budget friendly. Maybe poultry is down right now or pork, or go vegetarian. That’s a way to balance it out. So it’s not a whole beef party. You’ve got a good mix and you’re keeping that cost down accordingly.
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