Inflation

Tips on How to Save Money on Groceries, Gas and More as Inflation Soars

NBC4 Responds is Working 4 You with tips to help you cut costs on groceries, gas and more as the holiday season approaches

NBC Universal, Inc.

With inflation rising at the highest rate in more than 30 years, it’s gotten tough to keep up with higher prices. 

NBC4 Responds is Working 4 You with tips to help you cut costs on groceries, gas and more as the holiday season approaches. 

The inflation rate for 2021 is 6.2% as of October, the biggest rise in the consumer price index in 30 years, the Labor Department reported. But what exactly is inflation? And what is causing inflation in 2021?

Groceries 

Prices surged an average of 5.3% last month, with the cost of meat, poultry, fish, and eggs soaring 11.9%. Here are some ideas on how to keep your food budget under control.

  • Take full advantage of promotions, and stock up your freezer and pantry.
  • Stick with discount stores such as Costco.
  • Buy store brands instead of name brands.
  • Scout for bargains at drugstores. 
  • Try convenience stores, which are expanding their variety of fresh foods. 

Gas 

Gas prices have jumped almost 50% in the past year. Here are some ideas.

  • Install the GasBuddy app. It shows gas prices in your area so you can make a smart choice and plan your trip accordingly. “It allows you to make an educated decision on where you want to fill your tank, how much you want to spend per gallon,” said Patrick De Haan, GasBuddy’s head of petroleum analysis.
  • Drive evenly, accelerating slowly. 
  • Stick to the speed limit. 
  • Take off your roof rack. 

Phone and Internet Bills

Telecom and internet service costs are going up, and we’re seeing providers imposing data caps again. To keep a lid on these costs, here are some ideas. 

  • Say you’re going to switch. “It really helps if you have another carrier that you can jump to and you can show evidence that they’re offering better rates. That’s liable to help you make your case,” one Consumer Reports expert said. 
  • Call your provider and ask them how you can lower your payments. 
  • Check to see if you qualify for discounts on internet service through the federal Emergency Broadband Benefit
Consumer Reporter Susan Hogan explains how to be compensated for robocalls using a little-known federal law.

Laundry

  • Measure your laundry detergent. Using too much wastes water, as too many suds may extend the rinse cycle. 
  • Wash clothes in cold water to save on energy costs. 

Bottom line: These larger price tags will require more planning, and perhaps a budget overhaul. Maintaining a cash reserve is helpful. 

Contact Us