How to avoid inflation-induced sticker shock at the grocery store
Meat distributor CEO Pat LaFrieda warns against retailers’ shift to smaller sticker prices with even smaller servings
Inflation ‘anchor’ will be meat industry: Pat LaFrieda
Pat LaFrieda Meat Purveyors CEO Pat LaFrieda says the meat industry will hold inflation down due to its interest infrastructure.
As Americans look for ways to save money during 40 year-high inflation, they can’t escape rising prices at the grocery store.
With the cost of beef and veal up 20% over the last year and poultry up 13.2%, New York meat distributor Pat LaFrieda analyzed consumers’ change in behavior and gave tips on getting the best bang for your buck on "Fox & Friends" Thursday.
"I think it's smart to look for economy cuts of meat in the supermarket for retail stores," LaFrieda advised, but then cautioned, "it's not a good move to go for items that have a smaller sticker price but have less weight in the package because the packaging will cost the same, which is at an all-time high as it is."
LaFrieda pointed out a "big movement" towards smaller portion packaged products hitting retail shelves.
U.S. ECONOMY SHRANK 1.4% AT BEGINNING OF 2022, MARKING WORST QUARTER IN TWO YEARS
"Why avoid the inevitable? If you're shopping for your family, you're going to eat that meat, you buy a family-sized portion," the distributor noted.
Pat LaFrieda Meat Purveyors CEO Pat LaFrieda says it's smart to look for economy cuts at retail grocers, but don't buy items with a lower price tag for less weight on "Fox & Friends" Thursday. (iStock)
And if you’re not shopping for a family, strictly buy what "you're going to consume, nothing less. Be wary of how many ounces are in a package, not just what the sticker is," LaFrieda added.
LaFrieda, the CEO of the self-named meat purveyor company, also encouraged leaving zero waste when cooking bone-in products.
"If you're de-boning the chicken for the chicken breast and you're using the chicken bones for stock, then yes, you can save money that way," the expert explained. "If you are just tossing the bones or tossing the skin right away, you would be better off buying the finished product and only paying the net weight at a higher price point," so less weight, no waste.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Retailers see ‘big movement’ to smaller portions amid inflation: LaFrieda Meat CEO
Pat LaFrieda Meat Purveyors CEO Pat LaFrieda argues there’s more value in buying family size packages than smaller, more expensive servings.
Due to the final product’s efficiency and the industry’s foundation, LaFrieda believes the meat distributors will serve as the "anchor" for inflation.
"It will hold inflation down because the infrastructure is there. It provides 6% of our GDP at nearly $1,000,000,000,000 and six million jobs," he said. "The infrastructure is not going to go anywhere… we just need the other prices to come down, and fuel to come down."