Holiday grocery prices: What to expect and how to save money
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(Michigan News Connection) With Thanksgiving just over two weeks away, will Michiganders and shoppers across the country face sticker shock at the grocery store while planning their holiday meals?
There is a mix of good and not-so-good news. According to consumer experts, grocery inflation has eased, with prices rising just 1.3 percent over the past year. However, prices are more than 20 percent higher than four years ago.
David Ortega, professor of food economics and policy at Michigan State University, said you won't have to dig as deep for the star of the Thanksgiving menu: turkey.
"Turkey prices, they're expected to be down compared to last year," Ortega reported. "The industry has been struggling with the bird flu outbreak over the past couple of years but producers are better prepared now. So you can expect to find turkeys anywhere between 2 percent and 10 percent lower in price."
The price increases this holiday season stem from several factors, including the 2019 pandemic disrupting supply chains, droughts damaging crops, avian flu driving up egg prices, and global conflicts raising overall costs.
Ortega emphasized taking advantage of your grocery store's loyalty program or app can unlock significant savings, which sometimes offers personalized discounts tailored to your shopping habits. He shared a couple of other practical strategies to help keep your holiday meal costs in check.
"Look for store brands or private labels," Ortega advised. "They're a great way to cut costs and often times, you're not really compromising on quality. And I suggest that you make a detailed shopping list, and that you stick to it."
Ortega added as shoppers become more budget-conscious, stores are offering more promotions and loyalty programs. Retailers are working to keep holiday meals affordable, with some even matching prices from 2019.