(StraightNews.org) – A new report has revealed that the average American family spends more than $1,000 per month on groceries. The report concludes a study conducted by Help Advisor, which analyzed data from the US Census Bureau Household Pulse Survey. It found that families spend roughly $270 at the grocery store each week. It also found that households without children pay 41% less than families with children.
The cost of groceries varies from state to state, with California topping the list as the most expensive. Golden State residents spend an average of $297.72 a week. In second place is Nevada, where the weekly grocery shop costs $294.76 a week on average. The top five are Mississippi in third place at $290.64 per week, Washington is in fourth place at $287.67, and in Florida, the weekly bill is $287.27.
The most expensive city in the US is Tampa, Florida, which is 14% higher than the Sunshine State average at $327.89 per week.
Grocery shopping costs the lowest weekly amount in Wisconsin, where residents pay an average of $221.46. The cheapest states for food purchases are Iowa, Nebraska, Michigan, and Indiana, where household grocery costs average at around $220.
The Bureau of Labor Statistics’ latest Consumer Price Index report in January showed that food at home prices rose 1.3% for the year ending December 2023 – down from 11.8% the previous year. Food prices overall were up 2.7%, driven by a considerable increase in the number of people eating out of home, which was up 5.2%.
Bill Adams, chief economist for Comerica Bank, said the economy is stabilizing, and the “economic dislocations caused by the pandemic are fading.”
Nevertheless, overall inflation figures rose to 3.4% in December, up from 3.1% in November. Analysts say, however, that they expect inflation to slow down in the first half of 2024. Ronald Temple, chief market strategist at Lazard, predicted that inflation “will likely continue to decelerate” as the year progresses.
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