Topic: How to save as food inflation jumps more than 11% in a year (Read 901 times)

The more days pass. Food prices in many countries continue to experience a very worrying increase. and the highest increase is in the current year, 2022. but many economic and food analysts believe that the increase in food prices could continue into the following year. so we need to be prepared early to face this.
and maybe we can start stocking up on foods that can last a long time if stored, such as the staple food in Asia, namely rice.
There may even be a fact that not many people know about rice that can be stored for up to 4-5 years.
even according to Utah State University rice if stored properly in an airtight place and with a temperature below 4 degrees Celsius. the rice can last for decades.
if you are interested read about it. there are many sources that you can find on the internet. one of the media sources that you can read as in this Link.

so saving does not have to be in the form of money. because even money can continue to decline in value when inflation continues. so save in other ways. like stocking rice. if in your country the staple food is rice of course. spread your savings in several forms. be it gold or otherwise. the important thing is that the savings are managed in a form that is not too affected by inflation. so the value can stay the same over time.
and if you have uncultivated land. then start planting plants from now on. namely plants that you can use when a food crisis occurs later.

Yes, there are already many people who are into this, but a greater number of people are not used to this and so are not doing. Instead, they keep on buying and storing a lot of foods and when they get spoiled, they just throw them away which means a total waste of money and food when in fact most poor people have not even eating three times a day. So maybe the good thing to do is to educate people on how to plant and grow their own food backyard, as that would mean saving their money from buying and can also give extra foods to those neighbors who are less fortunate.

Yes, there are already many people who are into this, but a greater number of people are not used to this and so are not doing. Instead, they keep on buying and storing a lot of foods and when they get spoiled, they just throw them away which means a total waste of money and food when in fact most poor people have not even eating three times a day. So maybe the good thing to do is to educate people on how to plant and grow their own food backyard, as that would mean saving their money from buying and can also give extra foods to those neighbors who are less fortunate.

I absolutely agree with this. Buy less, recycle more. That's the formula for surviving times like these. The economy of your household is a great example for everyone, even for every country, not only for every family. I mean, many people and many countries are doing something like this already, but we need more understanding how important it is.

That's right. We have little experience in storing food and we don't have an appropriate equipment, so it is very likely that a big part of the food we want to preserve will go bad. The best strategy, in my opinion, is trying to find the places where we can buy cheaper food, and, of course, where we can earn some additional money.

The idea that we need to produce our own food never looked appealing to me at all. Why? Well simply because when you need a new clothe, do you manufacture it yourself? When you need a new TV, do you make it yourself? A new chair? A new pc? A new phone? A new desk? There aren't that many things in the world which we do, we are only responsible for our own jobs, and we earn money from our jobs and use that money to buy all the other things.

If I am producing my own food as well, then let everyone do that and destroy all farmers, why are they even useful in that case? Which means, crops should get cheaper, instead of me trying to figure out how to raise crops my own.

Mentioned in the above post is a good suggestion. Nowadays rooftop gardening have been popular around, and people find ways to meet their own vegetable needs through it. This can decrease their spending on food and also gives space to spend time in a better way for the house wives/husbands.

In some cases people spend a lot on outdoor plants that are just good for beauty. Rather than spending much on beautifying a place, prioritising production is good.

Mentioned in the above post is a good suggestion. Nowadays rooftop gardening have been popular around, and people find ways to meet their own vegetable needs through it. This can decrease their spending on food and also gives space to spend time in a better way for the house wives/husbands.

In some cases people spend a lot on outdoor plants that are just good for beauty. Rather than spending much on beautifying a place, prioritising production is good.

These are not the type of tips that we need right now in the year 2022, when we are so close to 2023. The industrial age already happened, we should have incredibly cheap food all around us,

Yes, I like the tips in this thread too. They can be very useful in times like these.

From my own experience I can add that we can catch fishes if living close to a river, sea or pond. We can pick berries and nuts if there's a forest nearby. We, humans, were hunter-gatherers for most of our existence, so, we are wired for this activity, and that's why we like it so much.

I think people should try to cultivate more of their own produce to make up for some of the rise in inflation. I have seen several documentaries where the roof top of buildings are used to cultivate food. (lettuce / Tomatoes / Onions etc..) and also a small herb garden.  

A lot of people have houses with a large garden, but they do not plant any edible plants or fruit trees. You have the soil and you have water.... why not use that to it's bets potential. We have small informal markets for people to sell their produce and/or trade with other people.  

I think people should try to cultivate more of their own produce to make up for some of the rise in inflation. I have seen several documentaries where the roof top of buildings are used to cultivate food. (lettuce / Tomatoes / Onions etc..) and also a small herb garden.  

A lot of people have houses with a large garden, but they do not plant any edible plants or fruit trees. You have the soil and you have water.... why not use that to it's bets potential. We have small informal markets for people to sell their produce and/or trade with other people.  

Economic problems also occur in my country, many natural disasters such as floods that destroy a lot of agricultural land and crop failure, the threat of food imports will occur so it can be ascertained that food prices will continue to rise, when compared to the beginning of the year, it has now risen by more than 10%.

Yes, I like the tips in this thread too. They can be very useful in times like these.

From my own experience I can add that we can catch fishes if living close to a river, sea or pond. We can pick berries and nuts if there's a forest nearby. We, humans, were hunter-gatherers for most of our existence, so, we are wired for this activity, and that's why we like it so much.

But I think the best tip here is grow your income. Find more ways to get additional income so that you will not be completely affected with these increasing prices around. If you have multi sources of income that give you bigger profits, then saving will not be a problem anymore.

How to beat food inflation:
1.Eat less. Fasting is good for our health(even though I hear that some experts say that fasting is bad for our health). I don't know anything about nutrition and endocrinology.
2.Raise your own fruits and vegetables in your own garden or piece of land. The costs of doing agriculture are raising as well. The fall/winter are coming and you can't raise vegetables right now.
3.Increase your income. Get a promotion and a higher salary. Grow your small business. I can't give any particular advise about how to do that.

Great tips. And I am actually doing them all. Another thing we did at home is we plant some manageable kinds of stuff like vegetables and fruits in front and at the back of our house. And I live in a small lot only with like 15 to 20 square meters of space. It first started when I stopped my plan to make a terrace in front of our house due to these hard times. One time while eating a sweet watermelon, I threw its seeds in front of our house. I didn't expect for it to grow up so we take care of it. To make it short, we harvested 9 big sweet watermelons before the plant died. Because of that incident, we already planted pumpkins, bitter gourds, chili plants, and many more that are not demanding of space.

The inflation that is difficult for us to avoid is from the food sector, and the fact that it happens that food inflation always occurs every year. There is no special trick that I run in life, when inflation occurs, the first thing I do is be selective and reduce unnecessary needs, such as vacations, eating at restaurants and so on.

~ In this hard time, it is very important to avoid waste. Hence every family must ensure they only prepare food that would be consumed without much waste. Like in my house, in order to avoid waste I have domestic animals like poultry birds that feed from food remnants and we also use their droppings as manure for our small garden. When they are matured we use them as our source of eggs and meat.    

That's right. We have little experience in storing food and we don't have an appropriate equipment, so it is very likely that a big part of the food we want to preserve will go bad. The best strategy, in my opinion, is trying to find the places where we can buy cheaper food, and, of course, where we can earn some additional money.

That's right. We have little experience in storing food and we don't have an appropriate equipment, so it is very likely that a big part of the food we want to preserve will go bad. The best strategy, in my opinion, is trying to find the places where we can buy cheaper food, and, of course, where we can earn some additional money.

I don't think buying food and stocking is a good idea if that's what you mean, the best way around this is to live below your means and add some other cash flows.

There are bad investments too of course, it's not impossible to lose money, in fact it's good as to lose money which is why you should invest carefully, but it is not about "how" you invest, it's about what you invest into. Like if you are buying an estate, you could buy a rundown horrible one for overpriced value, or you could buy a great one undervalued.

That is the more stressful thing - inflation is killing everyone
Apart from this I have noticed one more thing - families and couples are fighting like crazy. I think this is post Covid depression which is affecting every household.

Most inflation will start from the price of food ingredients, this is because everyone needs food, when an increase in the electronics or fashion is that most people can hold it by not buying, but if inflation occurs in the food sector, this will have a broad impact.

Most inflation will start from the price of food ingredients, this is because everyone needs food, when an increase in the electronics or fashion is that most people can hold it by not buying, but if inflation occurs in the food sector, this will have a broad impact.

In a condition of worsening economic crisis. and when inflation is rising. I think for some people it must be difficult to save their finances. even the allotment of saving is reduced or even unable to save at all.

but I think an alternative way is always there.
if you are more observant in paying attention to market prices, especially in food prices. then you will find a price gap that is in the market and the price sold from farmers directly. then there is also the gap between instant food and raw food that needs to be processed.

This is where we need to make changes in our habits of life. especially in terms of shopping for our daily food needs.

if you usually buy instant food which is relatively more expensive. can be 2x-3x the original price of the food before processing. then reduce or stop buying instant or ready-to-eat foods. and make it a habit to buy raw materials that need to be processed yourself. in the markets actually a lot of raw food sold. which is relatively cheaper. and if you have an acquaintance of a farmer. then buying from farmers directly for stock will be much better. because you will save more money. although indeed in its processing you need a little hard work. but that way you can still save and save money when inflation is rising today.

I found the fact that even though the price of fertilizer was getting higher, the selling price of food from farmers did not experience a higher increase.

and if you know the fact that the price of food in the market is 3x the price of the direct farmer.

there are still many ways to save money in this time of inflation if we want to find an alternative way. Moving to the countryside is also a very good thing. because the price there is much cheaper in terms of food because it is directly from farmers. we can also grow crops there. and we are also easy to find firewood. when gas reserves run out. so we can also save energy.

Each user has a different way of managing their finances regardless of whether it is viewed as good or bad by other users. I like investing in gold over property, it has been an investment asset option that I have considered for a long time. Savings is only for emergencies because actually I don't really ignore this centralized system of fiat.

I know inflation has drained a lot of its value, it's too bad. However, I have not been able to get rid of the dependence on using fiat in my daily life. The situation will improve, the economy will return to normal and I believe inflation will decrease at the individual and national level when we know how to manage spending well.

Purchasing properties and investing in gold during this crisis is really hard but still a wise idea. We shouldn't disregard the idea of saving and investing even if we are in the midst of this global crisis. It's still necessary that we'll have enough preparation for the future.
Surviving might be hard during this period but it will be harder if the situation gets worse and we are not even prepared so as much ss possible, we must find more ways to double our earnings and to increase our savings because we still don't know what will tomorrow bring.

The rate of inflation is very high and worsens day after day. Before you could use your savings, the purchasing power of your savings would go way below expectations. I have decided not to save anymore. Even emergence savings I will not have.
I will use my money to be buying bitcoin and then buy properties, when there is an emergency need, I'll sell one of my properties and take care of the emergency. The  way the economy and economics is going, I can say that the future is absolutely very unpredictable.

The only way to save yourself is to cut down the extra expense and stop eating junk
I have stopped going for window shopping and it has saved so much of my money

I don't know how to manage my finances in the best way during this inflation other than being frugal not to spend too much money on things that are not urgent. Inflation has messed up a lot of my investment plans so far, but I'm trying to stay focused on that plan even though it's actually a bit inconsistent.

10% of my total income can still be saved for savings, sometimes I can't do it consistently every month but I can accumulate it the next month for 20%. This strategy may vary from person to person, but so far I haven't had too many problems.

I agree with the point, increasing of income will be best choice to tackle the inflation rate but if we wre talking about everyone living in a country or State then we have to suggest the best possible ways. Buying groceries bulk can reduce the cost 10 to 15% but we need money to buy them at first.

Many of us forget why every prices are getting higher is due to the increase of fuel price so if government is ready to lose some of their tax revenue from oil and gas then prices of every goods can be under the limit for a while.

I don't think buying food and stocking is a good idea if that's what you mean, the best way around this is to live below your means and add some other cash flows.

That is finest approach - giving up on fast food - we did the same
Me and my brother was very fond of eating fast food. We gained so much weight - but now we held our hand and reduced so much weight only by clean eating.

The most common inflation is food inflation, if it occurs with inflation in electronic, automotive or other products, this is not too problematic, but if what happens is food inflation it will be difficult to control and of course there is nothing we can do, maybe Just focus on increasing income.

To me you pose the question incorrectly, misrepresented. In the current situation, to beat inflation can be done in two ways, saving, as you say, or increasing income above 11%, which is the preferable one in my opinion.

In other threads I have commented that a year ago, which is when inflation began to be noticed, before the war, my income increased, and this has meant that in spite of this inflationary period I have been able to spend more and save more.

It is not an easy thing and not everybody can do it. If you can't increase income, cut back on expenses, yes, but at least try, think about increasing income.

Price rises are hurting everyone everywhere in the world. The whole of South Asia, for instance, is struggling with inflation. In the US, inflation with food prices jumping is the biggest one-year increase since 1979. The rising cost of food forces tough choices. The problem of food insecurity faces most of the countries.  It's happening due to a combination of domestic and international factors. Inflation is out of your hands, so only our personal actions make things better and save household income. Budgeting and financial discipline will save us these days.

How to beat food inflation:
1.Eat less. Fasting is good for our health(even though I hear that some experts say that fasting is bad for our health). I don't know anything about nutrition and endocrinology.

How to beat food inflation:
2.Raise your own fruits and vegetables in your own garden or piece of land. The costs of doing agriculture are raising as well. The fall/winter are coming and you can't raise vegetables right now.

How to beat food inflation:
3.Increase your income. Get a promotion and a higher salary. Grow your small business. I can't give any particular advise about how to do that.

That is finest approach - giving up on fast food - we did the same
Me and my brother was very fond of eating fast food. We gained so much weight - but now we held our hand and reduced so much weight only by clean eating.

My first priority was to give up fast food consumption and the habit of eating in special places such as restaurants. In addition, I follow the discount days for grocery shopping. Also, I've reintroduced old methods such as canning into my plans. I can't do anything more. What I can do about it is limited because after all, I cannot go hungry.

We can somehow overcome the energy crisis by making more effort and avoiding a little extravagance, but there is nothing we can do about issues like climate change. The energy crisis should remind us of the issue of climate change and enable us to take action against it now because global crises are creating problems beyond predictable events.

If you are talking about those cooked food and trying to sustain or make use of that method then i would tell you this that it is more expensive not only on the sense that stores will definitely be making those prices

higher considering the ingredients are becoming more expensive.We know that inflation affects everything so there's no way that you could avoid that.It is really much better to cook your own food rather

than on keep buying because it would really be resulting into more expense rather than on saving up.In overall if you do find yourself having problems then it would be wise on having consideration
on trying your best on finding other source of income aside from your current job atm.

The best way to fight food inflation IMO would be to stock up on as much food right now as possible (nonperishable foods, obviously).  Everything else is a crapshoot.

Although it is indeed advisable to grow and raise your own food, many people in urban areas simply can't do that for lack of space. And although they could afford to rent or lease a piece of land on the outskirts for the said purpose, many probably don't have the time for it. After all, it requires commitment.

Raising crops and growing animals for food entail responsibilities which I'm afraid many of the working people in cities couldn't afford to take. As a matter of fact, majority of the working class in my country work 6 days a week. The only day which is supposed to be their rest day isn't even enough to take care of household chores which they couldn't attend to during weekdays.

Buying in bulk is what we've been doing for years but it's really hitting us and the budget that I've got for food is no longer that satisfying anymore. If I want to buy more, I'll add more to my budget but things are different today and inflation really sucks.

That's why instead of buying bulk, I only buy those necessary groceries that we need. And with cooked food, we've got some stores in here that sells cooked food, not restaurant and fast food. But smaller ones and they're cheaper than the typical.

I'll be testing this strategy if we'll be able to save since we're tight on budget. Hopefully, this is going to work for my family.

2022 - 43 = 1979. So it seems the previous record was made in the 1970s. We're breaking records. Although not the type of records we would like to be breaking.

Government should help fund these initiatives to combat the inflation. Even if it's possible, growing food whether it's livestock or fruits & vegetables is not that easy as you think. You will still spend some money before you can harvest them for some consumable products. Local farmers should also be compensated well because they have the proper knowledge in doing those stuffs to raise it properly.

Crops don't just grow on themselves, livestock don't just flourish and give you product automatically. You'll have to work on the land for all of it.

How do we turn things around? Is there anything constructive we can do? How do people address these types of situations on a personal level?

While growing food may not be feasible for residents of cities. Is it possible to lease land in rural areas on city outskirts for purposes of food growing? Perhaps rural land near cities can be leased for city residents to house chickens, goats and livestock on a timeshare or communal basis?

• Rising food costs helped push inflation higher again last month, according to the latest government data.
• Prices for staples like eggs, milk, cereal, bread and butter notched some of the largest increases, further straining household budgets.
• Savings experts share their top tips to cut costs at the grocery store.

Going to the grocery store isn’t getting any cheaper.

Rising food costs helped push inflation higher again last month, despite a drop in gas prices. The food index alone rose 11.4% over the past year, according to the latest consumer price index figures — marking the biggest 12-month jump since May 1979.

The food-at-home index, a measure of price changes at the grocery store, increased 13.5% — also a 43-year high.

In the face of higher prices, consumers have been cutting back, according to Mark Hamrick, a senior economic analyst at Bankrate.com. However, “food, at its basic level, is not discretionary,” he said. “That’s the challenging aspect of the circumstances we are in.”

Prices for staples like eggs, milk, cereal, bread and butter notched some of the largest increases, further straining household budgets.

Inflation has also led many food and beverage companies, including Coca-Cola and PepsiCo, to raise the prices on drinks and packaged goods. Some are also making their packages smaller — also known as “shrinkflation” — or swap in less expensive ingredients, a tactic now termed “skimpflation.”

“Grocery product manufacturers know that while most shoppers will immediately notice a price increase, they are less likely to catch a reduction in a product’s net weight or a switch to using cheaper ingredients,” said Edgar Dworsky, the founder of Consumer World, who has been tracking the downsizing of popular products, such as Charmin, Quaker Instant Oatmeal and Honey Bunches of Oats.

The Federal Reserve has already taken aggressive steps to fight surging inflation, and a survey released earlier this week by the New York Fed showed consumers are growing less fearful about rising prices — although they still expect the inflation rate to be 5.7% a year from now.

“Consumers are prepared for high prices to persist in the foreseeable future, but there’s also a tendency for people to think that things might return to normal,” Hamrick said.

In the meantime, “it’s prudent for individuals to continue to be cautious with their household budgets,” he added.

To that end, savings experts share their top tips to spend less on groceries as food inflation shows no signs of slowing down anytime soon.

“It’s belt-tightening time and has been for a while,” Hamrick said.

5 tips for saving on groceries

1. Scrutinize sales. Generic brands can be 10% to 30% cheaper than their “premium” counterparts and just as good, but that’s not always the case. Name brands may be offering bigger-than-usual discounts right now to maintain loyalty, so it pays to pay attention to price changes.

2. Plan your meals. When you plan your meals in advance, you’re more likely to just buy the things you need, said Lisa Thompson, a savings expert at Coupons.com. If planning’s not your thing, at least go shopping with a rough idea of what you’ll be cooking in the week ahead to help stay on track and avoid impulse purchases, she added.

3. Buy in bulk. When it comes to the rest of the items on your list, you can save more by buying in bulk. Joining a wholesale club such as Costco, Sam’s Club or BJ’s will often get you the best price per unit on condiments and nonperishable goods.

4. Use a cash-back app. Ibotta and Checkout 51 are two of the most popular apps for earning cash back at the store, according to Julie Ramhold, a consumer analyst at DealNews.com. The average Ibotta user earns between $10 and $20 a month, but more active users can make as much as $100 to $300 a month, a spokesperson told CNBC.

5. Pay with the right card. While a generic cash-back card such as the Citi Double Cash Card can earn you 2%, there are specific grocery rewards cards that can earn you up to 6% back at supermarkets nationwide, such as the Blue Cash Preferred Card from American Express. CNBC’s Select has a full roundup of the best cards for food shopping along with the APRs and annual fees.



https://www.cnbc.com/2022/09/15/how-to-save-money-as-food-inflation-jumps.html

The food-at-home index, a measure of price changes at the grocery store, increased 13.5% — also a 43-year high.