Grocery prices have surged over 25% since 2019, but a new WalletHub study finds that New Yorkers spend 1.87% of their median monthly income on food, ranking 35th among U.S. states.
Mississippi, where wages are lower, spends the highest percentage (2.64%), while New Jersey spends the least (1.50%). WalletHub analysts note that states with lower median incomes tend to allocate a greater share of earnings to groceries, even if food prices are not the highest.
To cut costs, experts suggest budgeting, using rewards credit cards, buying store brands, and taking advantage of discounts. Bulk purchases and clearance items can also help stretch grocery dollars.
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