Food Prices Are on the Rise, but Sales Are More Plentiful

Prices for restaurant meals and groceries continue to rise, but at least you're more likely to get a discount.

The percentage of food sold on promotion has reached its highest level since before the pandemic, The Wall Street Journal reported Sunday, citing research from Nielsen IQ.

The cost of food as a whole, however, is still about a third higher than it was before COVID, the Journal reported.

The amount of food on sale jumped more than 5% in the 52-week period that ended in mid-October compared with the previous 52 weeks, according to Nielsen's data.

The change might be a bid to bring back customers at a time when sales are slumping.

Overall food sales per unit fell around 2% in the 52-week period that ended on Oct. 7 compared with the previous year, Nielsen's data shows.

Consumers are working through what they already have stocked up in their pantries and eating more leftovers, ConAgra chief executive Sean Connolly told the Journal.

"When consumers are flush, they throw their leftovers in the garbage," Connolly said. "When they're stretched, they keep leftovers and they try to avoid spending money on the next meal."

Shoppers appreciate the bargains, even as their overall grocery bills continue to increase.

"I almost had a heart attack the other day when I saw a box of cereal for $8.99," Rachel Pallettiere, a house cleaner who lives in Illinois, told the Journal. "I was like, 'Does that come with a gallon of milk too?'"

Pallettiere estimated that she spends around $600 a month on food for a family of six.