Prices for food haven’t risen quite as much in the last year — a win for shoppers already burdened by high prices —and a few items have actually experienced price declines, so you can start saving more on groceries now.
With the increased cost of living, we consumers will take whatever wins we can get. If you’re sick of high food prices, check out the following products on your grocery store shelves.
These might provide a little relief to your food budget as they are actually getting cheaper.
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Coffee
While the prices of other beverages have been rising, the cost of coffee has been inching downward. This is true of regular, instant, and roasted coffee. All types of coffee have seen a small 2 to 3.5% price decrease since early 2023.
This is great news for this pantry staple, as 80% of coffee drinkers have two or more cups of it per day.
Eggs
The price for a dozen eggs skyrocketed to $4.82 in January 2023, thanks to bird flu. The increased prices reflected both bird deaths related to the disease as well as the cost of fighting the outbreak across the U.S. Things have calmed down since, and prices are now about $2.72.
Milk
Breakfast is better when milk doesn’t break the bank — at least not as badly. Peaking at $4.20 in May 2022, a gallon of whole milk has now dropped to around $3.96, in part due to softening demand for dairy products, as well as a glut of milk on the market.
While this is bad news for dairy farmers dealing with rising operating costs, it’s good news for your breakfast cereal.
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Pasta
The price of pasta rose sharply in 2022 and 2023 — a staggering 20% attributable, some say, to the increased price of materials due to the war in Ukraine and other political troubles. Luckily, it’s coming down a little from previous highs, dropping 2.1% since June 2023.
While this isn’t enough to make up for the previous price hike, it’s a welcome relief for your next spaghetti night.
Ham
The price of ham has dropped substantially, 5.6% since June 2023. While that might be cause for consumers to get excited, the drop masks the fact that the previous years saw huge price spikes due to increased demand for ham in Mexico.
The current price drop, while positive, is really just a correction, the price coming back down from previous highs.
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Cheddar cheese
Experts say that the decline in the price of cheddar cheese prices was unexpected. Demand has decreased and production has slowed.
Like milk prices, the cost of cheese and other dairy increased early in the 2020s, but consumers are pushing back on the high prices of many dairy items. Demand must have tanked even more because cheddar cheese prices have declined 2.5% since June 2023.
Tomatoes
The prices for tomatoes are seasonal, peaking in the winter and dropping in the summer, when they’re in season in the United States. The recent high of $2.23 per pound in December 2022 fell to $2.00 in December 2023, reflecting a slight decrease in price.
However, the Commerce Department is considering a tariff on tomatoes from Mexico, which could cause prices to go up in the U.S.
Strawberries
The price of strawberries has dropped a whopping 17.6% since June 2023. This increase may be due to additional shipments from both Mexico and California, which overcompensated for a slimmer crop in Florida.
The strawberry industry is growing in production in both California and Florida, so hopefully, reasonable prices are here to stay.
Chicken
Meat lovers are finally getting some price relief. The price of chicken (boneless skinless breasts and bone-in legs) has decreased since June 2023, and the reason behind it is not what you’d expect — increased demand for renewable energy.
Soy oil is a commonly used renewable energy source, and the byproduct of processing it is soymeal, a key ingredient in chicken feed. Since feed accounts for 60% of the cost of raising an animal, the overabundance of soymeal has resulted in lower chicken prices.
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Lemons
California’s lemon crop reached a 50-year high in the 2022-2023 season coming it at 1.06 million tons. This bumper crop of lemons resulted in a price decline: Lemons are 11.2% cheaper than they were in June 2023.
So go ahead — squeeze some more into your water or soda or enjoy a pitcher of fresh-squeezed lemonade to help you beat the summer heat.
Potatoes
While the fries at your local fast-food joint have become more expensive, the price of plain old potatoes has gone down. The cost of white potatoes has decreased by 3.2% since January 2023.
However, this decrease may be short-lived as multiple factors (frost damage, the war in Ukraine, and disease) have caused a potato shortage, which could lead to price increases so get your fry fix now before the price jumps again.
Bottom line
Building your menu around cheaper foods, sale items, or products that have simply gotten cheaper is a smart shopping hack that will keep your grocery spending low.
By keeping a pulse on the normal price for pantry staples, you will notice when the cost of certain items drops, and you can take advantage by stocking up.
This approach not only helps you save money but also allows you to diversify your meals with a variety of budget-friendly options.
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