Food and gas are some of the required family expenses. Last year consumers got relief at the gas pump and now they got a nice break at the supermarket. As reported on MarketWatch, grocery prices have fallen for the last 12 months. It’s only the fourth time in the past 25 years that the cost of groceries has turned negative. The falling cost is due to a global glut among crop producers and a slower world economy. While the cost of making dinner at home is cheaper, eating out has gotten more expensive. The price of “food away from home” has risen 2.7% in the past 12 months. (marketwatch.com)
Consumers Are Paying Less for Groceries Amid Global Glut of Crops
