Grocery Bills Keep Climbing: Average Family to Pay $700 More on Food in 2024
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Grocery prices are expected to increase moderately in 2024, with a typical family's annual food bill rising by about $700 to over $16,000.
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Prices for meat, produce, and baked goods will likely keep increasing, but deals may be found on packaged and pre-made goods.
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Food companies are seeing more stable costs for ingredients and transportation, allowing potential price freezes.
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Unpredictable events like climate change and global conflicts are wild cards that could alter food price forecasts.
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Even with slower price hikes, many shoppers are struggling and switching to cheaper items to cope with high costs.