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While inflation is starting to moderate, Americans are still feeling its impact, especially at the grocery store. Trae Bodge, founder of TrueTrae, joined TheStreet to share some tips on how consumers can save at the checkout line.
Full transcript of the video below:
CONWAY GITTENS: We recently received some data showing that it is not that food prices are falling, but that the inflation rate and food prices are slowing down a bit. Where do you think food prices will go as we approach the second half of the year?
BRING BODGE: So I'm seeing a little bit of a reprieve. But they're up almost 25% over the last four years. That has a huge impact for families on a budget, which is most of us. So we have to be very strategic about how we look to save. If you're not already, you should be buying store brands or generic. Just check the ingredient list. Make sure it's the same ingredients in your favorite brand as it is in that store brand. And a lot of times they're made in the same factory and they're the same products. Ultimately, use loyalty programs, buy in bulk like we've talked about, look for ways to save online. Those are all strategies that we should be using to save on those groceries.
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CONWAY GITTENS: And we've seen some headlines about beef prices going up. This is like barbecue season. Yeah, what kind of tips do you have for barbecues?
BRING BODGE: Yeah, that's a little bit tricky. I mean, if you have a sector that's as high-priced as that, there's not a lot of ways to save. And I certainly wouldn't say, you know, buy more than you need in bulk and then put it away because it gets freezer burn. So I say the best thing to do is mix things up a little bit, you know, buy your favorite steak and then find another meat that's a little bit cheaper. Maybe poultry is low right now or pork, or you go vegetarian. That's one way to balance it out. So it's not an all-beef feast. You've got a nice mix and you're keeping that cost down accordingly.
Related: 5 Tips to Save Money When Shopping
