Grocery prices rose 23.6% from 2020 to 2024. It ranks 16th in the US in terms of the percentage of income spent on groceries. Here are some tips to save money on groceries.
Where does Florida rank when it comes to grocery prices?
According to the USDA, this is no surprise to anyone who has done food shopping. Over the past five years, grocery prices have increased by almost 25%.
But are prices better in some states or are they bad? How do prices in Florida compare to other people in other states?
Wallethub, a personal finance website, analyzed the prices of 26 common grocery items in 50 states and determined where people spend the largest percentage of their grocery income.
Food prices will increase by 23.6% from 2020 to 2024
The Total Food Consumer Price Index rose 23.6% between 2020 and 2024, according to the USDA Economic Research Service.
On the bright side, price growth continued to slow in 2024 compared to the increase in 2023 (5.0%) and 2022 (11.4%).
Avian flu – bird flu – which began in 2022, was the reason for the rise in egg prices, which increased by 8.5% in 2024, and was the most increase of all foods.
The second-largest price rise in food prices in 2024 was beef and veal prices (5.4%) followed by sugar and sweets (3.0%), the USDA said.
Where does Florida rank among us in grocery spending?
According to Wallethub, Florida ranks 16th in the US when it comes to buying groceries.
Florida shoppers spend 2.13% of their income on groceries, and so much from Mississippi, not far from top-ranked states.
2.13% reflects the cost of food as a percentage of monthly median household income.
What states spend the largest percentage of their income on groceries?
The results of Wallethub’s analysis look at states where shoppers spend the highest percentage of their income on groceries.
Mississippi (2.64%)West Virginia (2.57%)Arkansas (2.49%)Kentucky (2.41%)Louisiana (2.39%)New Mexico (2.36%)Alabama (2.34%)South Carolina (2.27%)Tennessee (2.23%)Oklahoma ( 2.23%) 2.21%)
Special Note: Top states match the lowest-median revenue states in the country, said Wallethub writer and analyst Chip Lubo.
➤ See where all states were ranked in Wallethub analysis
“The costs of these groceries are probably lower than expected in California and the Northeast, but the numbers are higher because they spend less on those groceries,” Rupo told USA Today .
Which state spends the lowest percentage of income on groceries?
41. Hawaii (1.68%) 42. Colorado (1.67%) 43. Virginia (1.66%) 44. Minnesota (1.66%) 45. Utah (1.63%) 46. Connecticut (1.62%) 47. New Hampshire (1.60%) 48. Massachusetts (1.54%) 49. Maryland (1.54%) 50. New Jersey (1.50%)
Tips for saving money on food
Ideas to help you save grocery money from Wallethub:
Budget carefully: Creating a budget will help you determine how much you can spend on groceries. Please use the appropriate credit card. Get one of the best credit cards for groceries and save 1.5% to 6% at checkout. Benefits of Ttake’s discount: In addition to regular sales, many grocery stores offer coupons for items. They’re just willing to find them and redeem them when they check out. Join the free loyalty program available. View Store Brand Items: Many store brand products are roughly the same as foods with the taste name brand, but some may include items that are close to the look of clearance items: sale. Make sure you can use it by the date of Steep Discount.Buy in Bulk, but before it gets worse.
Want more tips to save money on groceries? Check if any of these ideas are familiar with the internet and whether your personal experience works for you:
Create a grocery list and paste it to proceed further? Create a meal plan and then create your list. Also, when you create your meal plan, check what is on sale and what seasons are. Check unit prices to get the most out of Season View, also known as Zero Waste Frozen Products. When you combine the remaining coupons with sales and discount coupons, it requires dedication and planning, but make the most of the store prices to eat gardenlimit meals. Your own coffee (yes, we said that)
Methodology of Wallethub Research
To determine which states spend the most on groceries, Wallethub analyzed the prices of 26 components ranging from meat, dairy, vegetables and fruits to frozen foods and cleaning products in 50 states.
Wallethub then summed the individual costs of the components, adjusted the resulting numbers to the median monthly income for each state, and used these results to rank the samples.
Contributions: USA Today, Betty Lin-Fisher
