Tackling Inflation: Tips on getting the biggest bang for your buck despite rising prices
DELMARVA, – It’s no secret that store prices are sky rocketing, but what exactly is the cause?
Well, experts say there are quite a few of them. “So you think about the port issues on the west coast, the fact that economy is flushed with cash, and there’s increased consumer demand as shopping habits have really change,” President of The Maryland Retailers Association Cailey Locklair said.
“All of that being the perfect storm is pushing prices up. Its going to be a time when we have to significantly pull back on our spending as consumers,” Salisbury University’s Perdue School of Business Professor Dr. Memo Diriker said.
I spoke with consumers and experts who say that time is now and have tips you should keep in mind as you make your way down the aisle. “At some of these discount stores or warehouse stores they obviously specialize in bulk sale so that’s somethings that going to save you money,” Locklair said.
“Where you can get a good deal at. Again, if you come in the mornings early when they’re restocking the shelves they’re putting out markdowns or day of foods. That’s a pretty big thing, especially for seniors,” Local Shopper Frank Armstead.
“Coupons always get you pretty far. There’s certain days of the week that grocery stores will match, double, or even triple a coupon for an item,” Locklair said.
As those prices continue rising, the Maryland Retailers Association says this could be a new normal for the time being.
“So we certainly need international conflict to calm down. We need these COVID bottlenecks in the supply chain to resolve. I think it will be interesting to see if the fed steps in here,” Locklair said.
“We have to look at do we really need this or are we simply wanting this. For at least the foreseeable future, focus more on the things we need less on the things we want,” Dr. Diriker said.
Experts say shoppers can also find bargains at pharmacies and convenience stores.
If you don’t receive traditional coupons in mail, we’re told you can also go online to find thousands of deals.