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12 May 2008 08:48 AM

Adjusting Your Price Book with Escalating Grocery Costs

by Mary Ann Romans | More from this Blogger

In the previous article, Our Changing Grocery Prices, I talked about how we've been having to adjust what we are willing to pay for some grocery items, in the wake of rising food prices. I shared some concrete examples of items from my mental price books and how I have had to adjust them, such as cereal, apples and eggs.

Making these adjustments can be tough. Since prices aren't steady, it is hard to know what the lowest price on something is or will be. Milk at $4 a gallon seems outrageous, until it rises to $4.50 on average. I was floored by a can of cranberry sauce costing 79 cents. Previously, cranberry sauce could be had for 29 cents. Now, however, it has risen to 99 cents.

The key here is not to throw away your price book completely, but make little adjustments when you can. You are going to have to put a lot more work into your price book, until prices start to stabilize. According to analysts, that might not be for another five years. Personally, I think prices will continue to rise for years to come, but the soaring jumps in prices on things may settle down to the point where the changes are more steady and predictable. They have to do this. If food prices rise 35-50 percent each year, most of us will soon starve. And there are already solutions in place to ease some of the unpredictability. But for now, be prepared to adjust your price book and change your expectations.

Bring the book to the store with you (if yours is all in your head, such as mine is, then you have no excuse for leaving it behind). While you are shopping for bread, take the time to update prices on other items in the aisle, such as milk or eggs. Write down the lowest you see, and don't be afraid to check back the following week and change it. Peruse the sales flyers and note the lowest prices.

Consider changing your price book to include a range of prices for an item. While tuna at 79 cents a can is wonderful, your store may be all out very quickly when it goes on sale. Manufacturers are not stocking as much food because of the cost to transport it, and people are stocking up when they can. Stores are limiting the purchase of sales items as well. So, If you spot the tuna at 84 cents a can somewhere else, you might be wise to purchase it.

Check back again. I'll be talking about how it is harder to get the sales before everyone else does, and how you can be the first in line.

Mary Ann Romans writes about everything related to saving money in the Frugal Blog, technology in the Computing Blog, and creating a home in the Home Blog. You can read more of her articles by clicking here.

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Our Changing Grocery Prices

End of Loaf Meat and Cheese Deals

10 Ways to Cut Your Grocery Bill

10 Ways to Cut Your Grocery Bill 2

A Guide to Salvage Grocery Shopping

A Guide to Salvage Grocery Shopping 2

The Grocery Report

Learn more about Mary Ann Romans

Mary Ann Romans is a freelance writer and mother of three children. She lives in Pennsylvania with her husband, the kids and a 16-pound cat. The goldfish, alas, has passed away.

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