Inflation is unavoidable but we can be smart in dealing with it.
According to ycharts.com, US Inflation for June was 2.97% compared to 4.05% the previous month. This is against the backdrop of 9.06% last year. The long-term average is 3.28%. So does that mean the US Fed has done its job and inflation is declining? The jury is still out there.
Wherever we are on the scale of economic state now, it’s best to err on the safe side. Food prices are one of the most critical topics in times of inflation. With prices of food and daily necessities soaring high, here are some of the ways to be a prudent consumer.
1. Experiment with house brands and cheaper alternative
Humans are creatures of habit and routine. A big part of our life as an adult would have been heavily influenced by our childhood. I bet most of the items in our kitchen now reminiscence what our parents had in theirs, and that includes the type of food and brands on them. After all, Mum knows best, eh?
That brand you have been familiar with is likely to go through multiple price hikes due to inflation. The quality may have dropped along the way and there could be cheaper and better alternatives today.
