Grocery inflation improves, but some Americans are questioning it

(NBC, KYMA/KECY) - Grocery inflation is improving, so why doesn't it feel like it?

Saying grocery store prices have been hard to follow in recent years is an understatement.

"It's almost become a game of whack-a-mole for consumers, to figure out what's going to be the next big thing with big price increases and figure out how do I change my eating habits based on what happens?"

Joe Redden, Marketing Analytics Professor at the University of Minnesota's Carlson School of Management

Redden says that's why even though it's true that you could actually save money on a Super Bowl spread this year over last, at least if you're sticking to wings and shrimp while avoiding beef and name brand chips.

But as a consumer who showcased his own home kitchen says he knows what tends to happen in reality.

"You really see the sticker shock when you check out and you realize that total is a lot bigger than it used to be," Redden spoke.

"Vibes" poll

And that's not sitting well with most Americans. According to a so-called "Vibes" poll conducted by Axios recently, roughly 72% of respondents said groceries are where they feel most affected by inflation, with 59% feeling angry, anxious or resigned when shopping.

And if you're wondering why, with grocery inflation coming back down to Earth last year, keep in mind that prices are still up by nearly 20% in the last three.

"One of the challenges of inflation with food, is it's been consistently going up, and that's just building on top of itself and building on top of itself, so even if it does flatten out now, with very little inflation, we are still going to be paying quite a bit more than a year or two, or three years ago."

Joe Redden, Marketing Analytics Professor at the University of Minnesota's Carlson School of Management

"The increase might be slowing down but the prices aren't going down," said Rob Williams, founder of Every Meal.

Skyrocketing demand and prices

Williams has struggled keep up with both skyrocketing demand and prices since his company provides a weekend's worth of food to students and their families across the region.

"Every penny that it costs more per bag is $4,000 a year for our program. What if it goes up 50 cents, right?" Williams expressed.

Fortunately, Williams says recent financial support will soon allow them to expand their warehouse space.

"By expanding the building space, that allows us to store more food and that allows us to get lower prices in the long run...to decrease that price per unit," Williams shared.

Smart shopping can help

That's a lot more difficult for the rest of us.

"Those high prices just tend to be sticky," Redden remarked.

But Redden said smart shopping can help.

"We have seen some recent financial results where they're starting to see the pushback on those higher prices now, and we're seeing some of those leading food manufacturers, where their unit volume is dropping. So while they're charging more per unit, and making more on each unit they sell, they're now selling less units in total...If we see any price drop, that will be the catalyst that does it. Consumers speaking with their wallets and enough of them say, 'I'm not going to buy it.'"

Joe Redden, Marketing Analytics Professor at the University of Minnesota's Carlson School of Management