In today's fast-paced world, managing expenses is a priority for many households. One of the significant areas where families can make a substantial difference is their grocery budget. It is important to understand the importance of saving money while ensuring a nutritious and satisfying diet. In this comprehensive guide, we present you with practical and innovative strategies to save money on groceries. Our expert tips will help you make mindful choices, optimize your shopping experience, and achieve financial goals without compromising on quality.
1. Smart Meal Planning for Cost-Effective Cooking
A well-thought-out meal plan is a cornerstone of cost-effective grocery shopping. Begin by assessing your family's dietary preferences and nutritional needs. Create a weekly menu that incorporates versatile ingredients, reducing the chances of food waste. Consider planning meals around sales and seasonal produce to get the most value for your money. By organizing your meals in advance, you can avoid impulse purchases and overspending. Here are some additional details and examples to enhance your understanding of cost-effective cooking through meal planning:
Assessing Dietary Preferences and Nutritional Needs:
Take into account the dietary preferences and nutritional requirements of your family members. If someone is vegetarian, vegan, or has specific dietary restrictions, tailor your meal plan accordingly. For instance, if you have a family member who needs extra protein, incorporate cost-effective sources like legumes and eggs into your plan.
Creating a Diverse Weekly Menu:
Design a menu that includes a variety of ingredients, enabling you to reuse certain items throughout the week. For example, if you're cooking chicken on Monday, consider using the leftover chicken to make sandwiches or salads later in the week. This reduces the need to buy multiple proteins and prevents food from going to waste.
Minimizing Food Waste:
Plan meals that use up perishable items before they spoil. If you buy a bunch of spinach, include recipes like salads, smoothies, and sautés in your plan to use it up. Additionally, freeze excess portions of meals for later consumption, so you're not forced to discard leftovers.
Leveraging Sales and Seasonal Produce:
Keep an eye on sales and discounts at your local grocery store. If there's a sale on pasta, consider including pasta dishes in your plan for the week. Likewise, base your meals around seasonal produce that tends to be more affordable and flavorful when it's in abundance. For example, in the summer, you could plan meals with zucchini, tomatoes, and bell peppers.
Batch Cooking and Freezing:
Plan meals that can be cooked in larger quantities and frozen for future use. For instance, you can prepare a big batch of chili or soup and freeze individual portions. This not only saves you time on busy days but also prevents you from ordering takeout when you're short on time.
Avoiding Impulse Purchases:
When you have a well-structured meal plan, you're less likely to make impulse purchases at the grocery store. Since you already have a clear list of ingredients you need, you can stick to that list and avoid buying unnecessary items that can drive up your grocery bill.
Customizing Leftovers:
Transform leftovers into new dishes to prevent monotony. For instance, if you have leftover roasted vegetables, you can use them in a wrap or omelet the next day. This creativity not only prevents food waste but also keeps meals exciting.
Monitoring Portion Sizes:
Plan your portions wisely to prevent overeating and food wastage. If you're cooking for a small family, adjust recipes accordingly to avoid excessive leftovers that might not be consumed.
Smart meal planning involves careful consideration of dietary preferences, creative use of ingredients, and a conscious effort to minimize waste. By incorporating these strategies into your meal planning routine, you can enjoy both financial savings and a more sustainable approach to cooking.
2. Embrace Seasonal and Local Produce
Incorporating seasonal and local produce into your diet not only supports your community but also offers cost savings. Seasonal fruits and vegetables are often priced lower due to their abundance, ensuring you get the freshest produce at a fraction of the cost. Create a garden-to-table experience by cultivating your herbs and small vegetables, further reducing your grocery expenses. Here are additional details and examples to help you understand the importance and benefits of incorporating seasonal and local produce into your diet:
Seasonal Variety and Affordability:
Seasonal fruits and vegetables are grown during their natural growing seasons, which means they are more abundant and readily available. This abundance leads to lower production and transportation costs, resulting in more affordable prices for consumers. For instance, during the summer, berries and stone fruits are in season and tend to be less expensive compared to out-of-season imports.
Nutritional Value and Flavor:
Produce that's in season is often harvested at its peak ripeness, which means it's packed with nutrients and flavor. For example, a locally grown tomato in the summer is likely to be juicier and more flavorful than a tomato shipped from another region during the winter. Eating produce at its freshest and most flavorful state enhances the taste of your dishes.
Supporting Local Farmers:
When you buy local produce, you're supporting farmers and producers in your community. This direct support helps sustain local economies and encourages the growth of small-scale farming. By purchasing from farmers markets or participating in community-supported agriculture (CSA) programs, you're contributing to the livelihood of local farmers.
Reduced Environmental Impact:
Choosing local produce reduces the carbon footprint associated with transporting food over long distances. When you buy produce that hasn't traveled far, you're contributing to lower greenhouse gas emissions and promoting a more sustainable food system.
Cultivating Your Own Produce:
You can take your commitment to local and seasonal eating a step further by growing your own herbs and small vegetables. Even if you have limited space, a small herb garden on your windowsill or balcony can yield fresh flavors for your meals. Growing your own food not only saves money but also provides a rewarding and educational experience.
Preserving and Storing:
During the peak of a particular season, you can buy larger quantities of produce and preserve them for later use. You can make jams, sauces, or freeze fruits to enjoy their flavors even when they're out of season. This practice allows you to enjoy the benefits of seasonal produce all year round.
Trying New Recipes:
Embracing seasonal ingredients encourages you to explore new recipes and cooking techniques. When you have access to a variety of fresh produce, you might discover unique dishes that you wouldn't have otherwise tried.
Connecting with Nature's Rhythms:
Eating with the seasons helps you reconnect with the natural cycles of agriculture. It encourages an appreciation for the changing availability of different foods and fosters a deeper connection to the environment.
By incorporating seasonal and local produce into your meals, you can enjoy a more diverse and flavorful diet, support local economies, and reduce your grocery expenses while promoting a sustainable and environmentally friendly approach to eating.
3. Bulk Buying for Long-Term Savings
Bulk buying is a savvy strategy that enables you to save money on essential pantry items. Staples like rice, pasta, flour, and canned goods can be purchased in larger quantities, resulting in a lower per-unit cost. Utilize airtight containers to keep these items fresh for an extended period. Moreover, consider joining a wholesale club to access even more substantial discounts on bulk purchases. Here are additional insights and examples to help you grasp the benefits and techniques of bulk buying for cost-effective shopping:
Cost-Effective Per-Unit Pricing:
One of the key advantages of bulk buying is the lower per-unit cost. When you purchase items like rice, pasta, flour, and canned goods in larger quantities, you're often paying less for each unit compared to buying smaller packages. This can lead to substantial savings over time.
Stocking Up on Staples:
Essential pantry staples tend to have a long shelf life, making them ideal candidates for bulk purchases. Items like rice, pasta, beans, and canned vegetables are versatile ingredients that can be used in a wide range of dishes, ensuring that you'll always have the basics on hand.
Reduced Packaging Waste:
Buying in bulk often means less packaging waste compared to purchasing individual items. This environmentally conscious choice can contribute to reducing your carbon footprint and promoting sustainability.
Airtight Storage for Freshness:
To maintain the quality and freshness of bulk purchases, invest in airtight containers. These containers help prevent moisture, air, and pests from affecting your stored goods. Proper storage prolongs the shelf life of your pantry items, ensuring that you use them before they go bad.
Customizable Quantities:
Bulk buying allows you to customize the quantity you purchase based on your needs. If you frequently use a particular ingredient, buying in bulk ensures you have a steady supply and can avoid last-minute trips to the store.
Joining Wholesale Clubs for Bigger Savings:
Consider becoming a member of a wholesale club, such as Costco or Sam's Club, to access even more substantial discounts on bulk purchases. These clubs offer a wide range of products in larger quantities, making it convenient to stock up on both pantry staples and household items.
Long-Term Planning and Budgeting:
Incorporate bulk buying into your meal planning and budgeting strategy. By purchasing non-perishable items in bulk, you can allocate more of your budget to fresh produce, dairy, and other items that require frequent replenishment.
Comparing Unit Prices:
When bulk buying, it's essential to compare the unit prices of different package sizes. Sometimes, larger packages aren't always the most cost-effective option. Calculate the cost per unit to ensure you're truly getting a good deal.
Rotation and Usage Monitoring:
To avoid spoilage and waste, establish a system for rotating your bulk purchases. Use the "first in, first out" rule, where you use the oldest items first. Regularly check the contents of your bulk storage and incorporate these items into your meal plans.
Bulk Buying with Non-Food Items:
Bulk buying isn't limited to food items. You can also apply this strategy to household essentials like cleaning supplies, toiletries, and pet food. This way, you save both time and money by reducing the frequency of shopping trips.
By mastering the art of bulk buying, you can maximize your grocery budget, reduce waste, and ensure you always have a well-stocked pantry to create delicious meals at a fraction of the cost.
4. Compare Prices and Shop Strategically
When it comes to grocery shopping, it pays to be a comparison shopper. Research prices at various supermarkets and local markets to identify the most budget-friendly options. Online tools and apps can assist you in comparing prices effortlessly. Furthermore, make a shopping list and stick to it to avoid spontaneous purchases that can inflate your bill. Here are more details and examples to help you understand the importance of price comparison and smart shopping techniques:
Researching Prices:
Take the time to compare prices of essential items across different supermarkets, local markets, and online retailers. Keep an eye out for weekly flyers, promotions, and discounts. Certain items might be more affordable at one store compared to another, so being aware of these differences can lead to significant savings.
Utilizing Online Tools and Apps:
Many online tools and apps are designed to make price comparison easier. These platforms allow you to input the items you need and generate a list of prices from various stores. Apps might also provide real-time updates on sales and promotions, helping you find the best deals without physically visiting multiple stores.
Bulk and Special Offers:
Pay attention to bulk discounts and special offers, such as "buy one, get one free" deals. While these offers can save you money, make sure you're purchasing items you actually need and will use before they expire.
Seasonal Sales and Clearance Items:
Capitalize on seasonal sales and clearance sections. Often, stores offer discounts on items that are reaching their expiration dates or are no longer in high demand. These items can still be perfectly fine for consumption and can help you save on your overall grocery bill.
Price Per Unit Comparison:
When comparing prices, focus on the price per unit (e.g., price per ounce or pound) rather than the total package price. This allows you to accurately compare different sizes and brands of the same item and determine which offers the best value.
Creating a Shopping List:
Before heading to the store, make a detailed shopping list based on your meal plan and household needs. Stick to this list to avoid making impulse purchases. A well-planned list helps you stay focused and prevents you from overspending on items that weren't part of your initial plan.
Avoiding Spontaneous Purchases:
Retailers often strategically place impulse-buy items near the checkout counters. These items can tempt you to make last-minute purchases that weren't on your list. Stay disciplined and remind yourself of your budget goals to resist these temptations.
Limiting Shopping Frequency:
Try to reduce the frequency of your shopping trips. The more often you visit the store, the more likely you are to make unnecessary purchases. Aim for weekly or bi-weekly shopping trips to stay organized and prevent overspending.
Virtual Carts for Online Shopping:
If you're shopping online, use the virtual shopping cart to review your selections before checking out. This gives you a chance to reevaluate your choices and remove items that might not be essential.
Staying Flexible:
While it's important to stick to your shopping list, be open to making substitutions if you find a better deal or if a particular item is unavailable. Flexibility can help you make the most of unexpected opportunities to save money.
By becoming a savvy comparison shopper and adopting strategic shopping habits, you can make the most of your grocery budget, find the best deals, and resist the allure of unnecessary purchases that can strain your finances.
5. Opt for Store Brands and Generic Products
Store brands and generic products often provide excellent value for money without compromising quality. These alternatives are typically more affordable than name-brand items, yet they maintain comparable taste and nutritional value. Experiment with different store brands to find your favorites, and watch your grocery costs decrease. Here are more insights and examples to help you understand the benefits of choosing these alternatives:
Comparable Quality at a Lower Price:
Store brands and generic products are designed to mimic the taste and quality of name-brand items, but they come at a lower cost. This means you can enjoy similar flavors and nutritional value without overspending.
Variety of Options:
Most supermarkets offer a wide range of store-brand alternatives for various product categories, from canned goods and cereals to cleaning supplies and personal care items. This gives you the freedom to choose from a diverse selection while staying within your budget.
Testing and Experimenting:
Trying different store brands is an opportunity to experiment and discover new favorites. You might find that you prefer the taste of a store-brand pasta sauce or cereal over the more expensive name-brand options.
Saving Without Sacrifice:
Opting for store brands does not mean sacrificing quality. In many cases, the difference in taste and quality is minimal, making it a practical choice for everyday items.
Buying in Bulk:
Some store brands offer bulk packaging options, allowing you to purchase larger quantities at a lower cost per unit. This is particularly beneficial for items you use frequently, such as rice, pasta, and canned goods.
Private-Label Products:
Many retailers offer private-label products that are exclusive to their brand. These products often go through rigorous quality control measures, ensuring that you're getting a reliable and cost-effective option.
Cost Savings Over Time:
The savings from choosing store brands can accumulate significantly over time, resulting in noticeable reductions in your overall grocery expenses.
Comparing Ingredients and Nutrition Labels:
If you're concerned about the nutritional value of store-brand items, take a moment to compare the ingredients and nutrition labels with those of name-brand products. You might find that the differences are negligible.
Blind Taste Tests:
Organize blind taste tests at home with your family or friends. This can be a fun way to determine whether there's a noticeable taste difference between store brands and name brands. You might be surprised by the results.
Focusing on Essential Items:
Reserve the bulk of your grocery budget for essential items and opt for store brands to save money on basics. This approach allows you to prioritize spending on fresh produce and premium items while still maintaining a balanced budget.
By embracing store brands and generic products, you can make intelligent choices that align with your budget goals without compromising on the quality and taste of the items you purchase. Over time, you'll find that these small adjustments contribute to significant savings on your overall grocery bill.
6. Minimize Processed and Pre-Packaged Foods
Processed and pre-packaged foods can substantially inflate your grocery bill without offering substantial nutritional benefits. Instead, focus on whole foods like grains, fresh produce, lean proteins, and dairy. These ingredients can be used in various recipes and offer better value for your money while contributing to a healthier lifestyle. Here are more details and examples to help you understand the importance of opting for whole foods and how they can enhance your overall well-being:
Higher Nutritional Value:
Whole foods, such as grains, fresh fruits, vegetables, lean proteins, and dairy, are rich in essential nutrients like vitamins, minerals, and fiber. These nutrients contribute to better overall health, immunity, and energy levels.
Long-Term Health Benefits:
A diet focused on whole foods has been linked to a reduced risk of chronic diseases like heart disease, diabetes, and obesity. By prioritizing whole foods, you're investing in your long-term well-being and potentially saving on medical expenses down the line.
Versatility and Flexibility:
Whole foods are versatile and can be used in a wide range of recipes. For instance, a bag of brown rice can serve as a base for stir-fries, grain bowls, or rice-based salads. This flexibility makes whole foods a cost-effective choice that minimizes waste.
Reduced Packaging Costs:
Pre-packaged and processed foods often come with extra packaging, contributing to higher costs and more waste. Choosing whole foods reduces your environmental footprint and can lead to cost savings over time.
Cooking from Scratch:
Preparing meals from scratch using whole ingredients is often more economical than purchasing pre-packaged meals or fast food. Cooking at home allows you to control portion sizes, ingredients, and flavors while saving money.
Less Hidden Costs:
Processed foods may appear cheaper upfront, but they often lack nutritional value and can lead to increased health-related costs in the long run. Whole foods provide genuine value for your money by offering nutrients that contribute to your overall well-being.
Buying in Bulk:
Many whole foods, such as grains, legumes, and nuts, can be purchased in bulk at a lower cost per unit. This enables you to save money while having a consistent supply of essential ingredients.
Reduced Sodium and Additives:
Processed foods often contain high levels of sodium, preservatives, and additives. By opting for whole foods, you have greater control over the ingredients you consume, promoting a more balanced and healthier diet.
Homemade Convenience Foods:
Create your own convenience foods by prepping ingredients in advance. For example, you can wash, chop, and store fresh vegetables for quick use in salads, stir-fries, and snacks throughout the week.
Educational Value:
Preparing meals using whole foods can be an educational experience for yourself and your family. You'll learn about different cooking techniques, flavor combinations, and the nutritional benefits of various ingredients.
By shifting your focus towards whole foods and reducing your reliance on processed and pre-packaged items, you not only save money but also prioritize your health and well-being. Embrace the variety and potential of whole foods to create satisfying and nourishing meals that contribute to a balanced lifestyle.
7. Utilize Loyalty Programs and Digital Coupons
While we're discussing saving money without relying on coupons, it's worth mentioning loyalty programs and digital coupons offered by retailers. Sign up for loyalty programs at your favorite stores to access exclusive discounts and rewards. Additionally, digital coupons available on apps can help you save on select items during your shopping trips. Here are more insights and examples to help you understand the benefits of these strategies:
Exclusive Discounts and Rewards:
Many retailers offer loyalty programs that provide members with exclusive discounts, special offers, and rewards. By signing up for these programs, you can access deals that are not available to non-members.
Personalized Offers:
Loyalty programs often track your shopping habits and preferences, allowing retailers to provide personalized offers based on your buying history. This means you're more likely to receive discounts on products you frequently purchase.
Points and Rewards System:
Loyalty programs may include a points or rewards system where you accumulate points for each purchase. These points can be redeemed for discounts, free products, or other benefits.
Digital Coupons for Convenience:
Many retailers offer digital coupons that can be loaded onto their apps or loyalty program accounts. These coupons are automatically applied at the checkout when you purchase the eligible items, saving you the hassle of clipping physical coupons.
Real-Time Savings Alerts:
Mobile apps and online platforms for loyalty programs often send real-time alerts about ongoing sales, discounts, and new coupons. This helps you stay informed and take advantage of timely savings opportunities.
Stacking Discounts:
Some loyalty programs allow you to stack discounts by combining loyalty rewards, digital coupons, and ongoing sales. This can lead to substantial savings on your overall shopping bill.
Cashback and Rebates:
Some loyalty programs offer cashback or rebate options where you receive a percentage of your purchase amount back as a credit. This can be applied to future purchases, effectively reducing your expenses.
Minimal Effort Required:
Utilizing loyalty programs and digital coupons requires minimal effort. Simply sign up, load the coupons onto your account, and let the savings accumulate as you shop.
Saving on Everyday Items:
Loyalty programs and digital coupons are particularly beneficial for saving on everyday essentials like household items, toiletries, and groceries. These small but consistent savings add up over time.
Staying Organized:
Keep track of your digital coupons and loyalty program benefits to ensure you don't miss out on any opportunities to save. Some apps even provide a virtual wallet to store and manage your coupons.
Comparing Offers:
Before you shop, check the available digital coupons and loyalty program offers. Compare these with your shopping list to identify where you can save the most.
By utilizing loyalty programs and digital coupons, you can make the most of your shopping experience by accessing exclusive discounts and personalized offers. These modern tools enable you to save effortlessly while still enjoying the convenience of your preferred retailers.
8. Implement the Envelope Budgeting System
Take control of your grocery spending by implementing the envelope budgeting system. Allocate a specific amount of cash to your groceries for the month and distribute it into envelopes labeled for each week. This tactile approach helps you visualize your spending and encourages mindful purchases. Once an envelope is empty, you're reminded to stick to your budget. Here are more details and examples to help you understand how to implement this system and make the most of your budget:
Allocate a Monthly Budget:
Start by determining how much you can afford to spend on groceries each month. This amount should be realistic and align with your overall financial goals.
Divide into Weekly Envelopes:
Once you have your monthly budget, divide it into weekly increments. For example, if your monthly grocery budget is $400 and there are four weeks in the month, allocate $100 to each week.
Label Envelopes:
Label separate envelopes for each week of the month. Write the corresponding week's dates on the envelopes to keep track easily.
Cash Withdrawal:
Withdraw the allocated amount for the week from your bank account and place it in the envelope for that week. Having physical cash in the envelope creates a tangible connection between your budget and your spending.
Use Cash for Groceries:
During your grocery shopping trips, use the cash from the designated envelope. This encourages you to stick to your budget, as you can physically see how much you have left for the week.
Mindful Purchases:
The envelope system promotes mindful spending. As the week progresses and the cash in the envelope diminishes, you'll become more conscious of your choices and avoid impulse purchases.
Visual Representation:
Envelopes visually represent your budget. Seeing the physical money decrease in the envelope serves as a reminder to make considered decisions and prioritize essential purchases.
No Overspending:
Once the cash in the envelope is used up, you're not allowed to spend any more on groceries until the next week. This strict approach prevents overspending and encourages discipline.
Rolling Over:
If you have money left in the envelope at the end of the week, consider rolling it over to the next week's envelope. This can give you a bit of flexibility in case you need to make a larger purchase in the future.
Adjustments and Learning:
Over time, you'll learn more about your spending habits and can adjust your budget accordingly. If you consistently find that you're under or overspending, you can fine-tune your budget allocations.
Benefits Beyond Grocery Budget:
The envelope system can extend beyond groceries to other discretionary spending categories, helping you maintain control over various aspects of your finances.
Implementing the envelope budgeting system encourages a practical and disciplined approach to grocery spending. By physically handling cash and visually monitoring your budget, you're empowered to make informed choices, avoid overspending, and achieve your financial goals.
9. DIY Kitchen Staples and Batch Cooking
Creating kitchen staples like sauces, dressings, and spice blends from scratch can save you money in the long run. Moreover, engaging in batch cooking allows you to prepare meals in advance and freeze them for busy days. This approach prevents last-minute takeout and ensures you have affordable, home-cooked options readily available. Here are more insights and examples to help you understand the benefits of these practices:
Cost Savings with DIY Staples:
Making kitchen staples like sauces, dressings, and spice blends from scratch is often more economical than buying pre-packaged versions. You can buy ingredients in bulk and create larger quantities at a lower cost per serving.
Customized Flavor Profiles:
DIY kitchen staples allow you to customize flavors to your preferences. Adjust the level of spiciness, sweetness, or tanginess to create unique and satisfying tastes.
Reduction in Packaging Waste:
Pre-packaged kitchen staples often come with excess packaging. By making your own, you contribute to reducing waste and promoting a more eco-friendly lifestyle.
Batch Cooking for Efficiency:
Batch cooking involves preparing larger quantities of meals and freezing them in portions. This saves time and energy on busy days when you don't have the capacity to cook from scratch.
Emergency Meals on Hand:
Having pre-cooked meals in the freezer acts as a backup plan for unexpected situations. Instead of resorting to expensive takeout, you can simply reheat a homemade meal.
Efficient Ingredient Usage:
Batch cooking allows you to use ingredients efficiently. For example, if you're chopping vegetables for one meal, you can chop extra for future recipes, reducing waste and preparation time later.
Variety and Dietary Needs:
With batch cooking, you can prepare a variety of meals that cater to different dietary preferences or restrictions within your household.
Planned Weekly Menus:
Incorporate batch-cooked meals into your weekly meal plan. This helps you balance variety, nutrition, and convenience throughout the week.
Saves Energy Costs:
Cooking in larger quantities during batch cooking is often more energy-efficient than cooking smaller meals multiple times.
Healthy Choices Made Easy:
Preparing and freezing homemade meals empowers you to make healthier choices. You're less likely to opt for unhealthy convenience foods when nutritious options are readily available.
Minimizes Food Waste:
Batch cooking can help you use up perishable ingredients before they spoil. For instance, if you have a surplus of vegetables, you can incorporate them into a batch of soups or stews.
Time and Stress Savings:
On busy days, the convenience of having pre-cooked meals can significantly reduce stress and save time. This is especially helpful for individuals with busy schedules.
By engaging in DIY kitchen staples and batch cooking, you not only save money and minimize food waste but also enhance your cooking efficiency and promote healthier eating habits. These practices empower you to take control of your meals, reduce your reliance on expensive takeout, and enjoy the convenience of homemade options.
Conclusion
Managing your grocery budget doesn't have to involve extreme couponing. With a strategic approach to meal planning, shopping, and dietary choices, you can make a significant impact on your finances. By following the tips outlined in this guide, you'll be well on your way to saving money on groceries while enjoying nutritious and delicious meals. Remember, small changes in your shopping habits can lead to substantial long-term savings and financial peace of mind.
Fact Section
According to the Bureau of Labor Statistics (BLS), food prices increased by 4.9% between July 2022 and July 2023. In comparison, during the same period in 2022, prices rose by 10.9% over a one-year span.
The index for food at home (groceries) increased by 3.6% year-over-year.
Grocery costs rose by 0.3% from June to July.
Restaurant patrons paid 7.1% more for food compared to the previous year, with the price index rising by 0.2% from June to July.
Limited-service meals (takeout only) rose by 7.1% year-over-year, while full-service (sit-down restaurant) meals increased by 5.8% year-over-year.
Factors contributing to rising food prices include inflation, high labor costs, supply chain disruptions, increased food production costs, droughts, wildfires affecting crop yields, and geopolitical issues such as the war in Ukraine impacting food exports.
The U.S. Department of Agriculture projects a rise in food prices for 2023, though at a slower rate than in 2022.