Consumers Get Tasty Break From Inflation

Finally, some finger-licking good news for hungry consumers. After years of dealing with
inflation and shrinkflation, shoppers are finally seeing some companies, including Target (TGT) and Walmart (WMT), slash prices.

That’s true of fast food chains, too. Recently, Sonic started selling a selection of cheeseburgers, chili dogs, and other food items for $1.99. Meanwhile, Subway unveiled a menu of $3 rolled flatbreads, putting pressure on competitors such as McDonald’s (MCD), who rolled out a $5 meal deal last month.

And it’s not just happening in fast food: In a recent earnings call, PepsiCo said the prices of its Frito-Lay snacks may have hit a ceiling and that it intends to cut some prices, according to the New York Times.

Budgets Are Still Strained

While your doctor might not be a fan of cheap fast food and salty snacks, it might be a welcome development for your food budget.

Yes, inflation has cooled, according to the latest report from the ​​Bureau of Labor Statistics. But people are still spending more money on food and other essentials than they were before the pandemic. And while high prices haven’t stopped people from spending altogether, the Federal Reserve Bank of New York said consumers are falling behind on their credit card payments, a sign that household finances are strained.

How to Save on Food

Affordable food options should be welcomed by families who continue to feel squeezed by high prices. Whole Foods (AMZN) is joining the anti-food waste marketplace Too Good To Go, which is giving consumers access to “surprise bags” of discounted surplus food.

And there are other ways to save on food too, such as cooking at home and freezing leftovers, eating less meat, and buying vegetables in season.

If you do eat out, there are things you can do to save some cash, such as foregoing dessert and drinks, or only visiting restaurants at happy hour.

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