Florida certainly has the title of being one of the lowest tax burdens for families, businesses, and consumers. However, when it comes to lower food cost, they line up as one of the worst..
A new study by Food Label Maker (FLB) shows the Sunshine State ranks 39 out of 50 states that have lower grocery prices.
FBL is a software group that analyzes food nutrition with food manufacturers and restaurants. FBL compiled information from nationwide databases at the state level on grocery prices per person for 2024 compared to grocery prices from 2022.
The state that came in number one with the lowest food cost was Texas, which was below the national average. Rounding out the other states, Michigan ranks second, and Mississippi placed third. Arkansas at number four and Kentucky at number five.
The states with the highest food prices for consumers were New York, Massachusetts, California, Alaska, and Hawaii.
With some states doing better than others when it comes to lower food cost, economic analysts say it’s still nothing to brag about.
Florida Daily Financial analyst Steve Beaman says when you compare the cost today versus 5 years ago everything is still higher.
“Yes, when you look back at inflation at its high mark in 2022, currently it is better, but the increase in cost (though smaller) is still rising, and consumers are paying 20% more in food prices today than they were at the beginning of 2021,” Beaman said.
“Consumers are increasingly focusing on stretching their budgets while prioritizing the quality and nutritional value of their purchases,” a Food Label Maker official said. “This study provides valuable insights that can help individuals and families make informed decisions about their food shopping habits.”
