KENNEWICK, Wash. – Raising food costs due to inflation has caused hardships for many families trying to shop.
“My immediate reaction is that I get worried,” Benton Franklin Fair Attendee Joe Castillo said. “Are we going to make it to the end of the month or is this going to get us through? Do we need a side hustle or do we need to cut back? Do we do something different?”
According to the U.S. Department of Agriculture Economic Research Service, prices for all food in July 2024 went up 2.9% compared to July 2023. The USDA projects costs to continue to rise.
Many shoppers have had to become creative with their approach towards grocery shopping.
“To save a little bit of money here and there, we always buy the store brand or non-branded items unless the name brand is on sale,” Castillo said. “For example, we drink a lot of pop in our house and oftentimes, Safeway will do a special on the name brand stuff, so we’ll stock up on it while it’s on sale.”
In times when items are becoming more expensive, improving financial literacy can help save money.
“Consumers, their best bet is to manage their finances and stick to a budget,” Petersen Hastings Wealth Advisors Senior Wealth Manager Cory Briggs said. “If they can reduce their discretionary spending, whether that’s going out to eat, paying for various entertainment, or even just looking for items that are on sale, that’s going to be helpful. Really, it’s just a matter of discipline.”
Increasing grocery prices have left shoppers upset.
“It’s really particularly frustrating for the working middle class,” Benton Franklin Fair Attendee Jaime Carson said. “I try not to get surprised at check out.”
“Frustrated. We work hard and you have a set budget for groceries,” Benton Franklin Fair Attendee Gregg Griffith said. “It’s hard when you’re shopping to actually get what you need and stay within that budget.”
According to Briggs, higher costs for energy are one of the main reasons for inflation across the country.
“Knowing that things have to be shipped, it’s going to cause inflationary pressures on nearly all other parts of the economy,” Briggs said.
