Would you continue to buy store-brand items if they increased in price?

The recession has prompted all of us to sacrifice some things in the name of fiscal responsibility. For some, one of those “sacrifices” may have been switching to store brands in lieu of name brands. However, the cheaper prices and improving quality of store brands have made these transitions easier.

According to a recent report by the Nielsen Company, U.S. retailers should take advantage of the favoritism consumers are showing to store brands by raising prices: Read the rest of this entry »

Part of this blog’s goal is to offer our readers money-saving advice. When food prices began to rise significantly over a year ago, personal-finance experts across the board suggested dropping name-brand items for the store brands. If name brands are more expensive, why isn’t everyone buying store brands?

If it’s because of taste, a recent blind taste test conducted by Consumer Reports may change your thinking. Out of the 29 food categories that were compared, name and store brands tested equal 19 times, while store brands scored higher four times, and name brands six. On average, experts say that the store brands cost an average of 27% less.

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Despite the recent decline in food prices, the U.S. Department of Agriculture (USDA) says they’re expecting that economic recovery will cause food prices to rise as the end of the year closes in. Compared with last year, food prices are down almost all the way across the board.

According to a report by the Economic Research Service of the USDA, grocery prices fell 0.5% in July from June, and have fallen 0.9% from the same period last year. However, the USDA is predicting that falling prices will give way to increases of 2-3% by year’s end: Read the rest of this entry »

The BBC has been monitoring food prices around the globe for the past year in order to develop their World Food Price Index. The index records the price fluctuations of the five staple foods from seven cities around the world.

In the U.S., the BBC has been documenting the prices at Washington D.C.’s Safeway supermarket: Read the rest of this entry »