New Jersey in Bottom 5 on Grocery Spending List
Anyone who has been in a food store lately knows that the prices for grocery spending have skyrocketed. While we were doing our food shopping a few weeks ago my wife, Kathleen, pointed out that chicken breasts that used to go on sale in four packages for twenty dollars are now two for twenty. That’s a one hundred percent increase in grocery spending for just one item.
This isn’t true for all grocery spending, but some states are spending much more than others in the food store.
New Jersey Grocery Spending Rank
Trace One just released a new report about which states grocery spending is the highest and which is the lowest. The study found that New Jersey residents spend the fifth least on grocery spending in America.
The report for New Jersey shows that the average New Jersey household spends close to three hundred dollars on grocery spending every week. It also points out that over seven percent of New Jersey resident’s “total consumer spending” is on groceries.
“Overall, New Jersey residents dedicate the 5th smallest percentage of total consumer spending to groceries of any U.S. state.”
Grocery prices are up around twenty-five percent since early 2020 at the beginning of the pandemic. However, there are certain items have seen even more significant upticks.
The report says, “This upward trend in food costs is particularly concerning for families on tight budgets, as food expenses represent a non-negotiable necessity.”
Groceries account for the largest share of individual spending in several states where income is relatively low, or where grocery prices are especially high. “However, even in regions where grocery spending constitutes a smaller portion of income, consumers still find themselves grappling with significant weekly food bills.”
In 37 states, consumers report weekly household grocery expenditures exceeding $250 on average.
The researchers calculated the share of total consumer spending allocated to groceries for each state, and then ranked the states. The full report also includes a complete breakdown of price increases for about forty popular grocery store items since the beginning of the pandemic in 2020.