The latest consumer price index rise of four percent in May 2023, year-over-year, was the smallest bump in over two years. While customers may feel relieved, experts believe we're entering a third inflation phase, where profit-led decisions will make the end of the supply chain, aka customers and shoppers, receive price hikes.
While egg prices have fallen to $2.67 on average in May from their January peak of $4.82, prices across states still remains tiered. Certain states like Alaska and Hawaii, due to logistical reasons, will always have premium prices in their markets, and to determine where residents pay the most for groceries, CashNetUSA's analysts compared prices across Walmart stores.
They budgeted for 12 basic food and drink items (with a vegan option too) and compared its cost to each state's average local incomes. Here's what they found.
Key Takeaways:
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Outside of Hawaii (+26.18 percent) and Alaska's (+20.11 percent) price premiums on groceries, residents in Tennessee, Georgia, Missouri and Alabama all pay around 12.5 percent more than the national average.
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Grocery prices are the most customer-friendly in West Virgina, Delaware, Kentucky, Ohio and Kansas, where they are around six to seven percent cheaper than the national average.
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Vegan shoppers in New Mexico enjoy the best prices with their state costs running five percent below the national average.
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