How Grocery Costs in 2025 Compare to 2024 So Far, According to Retirees
Written by
Heather Altamirano
Edited by
Cory Dudak
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Americans have been tightening their budgets thanks to the high cost of living, especially when it comes to groceries. The big question consumers want to know is if (and when) we’ll get relief at the check out.
According to the Consumer Price Index 2024 review, food prices increased 2.5%, with a 1.8% rise in costs for food at home, and a 3.6% jump for eating out. Furthermore, the Federal Reserve Bank of St. Louis noted food prices have jumped nearly 30% since 2019.
Many households have struggled to put food on the table and are grappling to find ways to pay for groceries. Not only have people dipped into their savings to cover food costs, but many have also gone into credit card debt, according to research from the Urban Institute.
How will 2025 compare? Already, food prices are predicted to rise 3.4% and increase “slightly faster” than the typical growth per the Consumer Price Index for Food, and people are already experiencing the pinch. GOBankingRates surveyed 1,000 Americans aged 18 and older from across the U.S. last month between Feb. 10 and Feb 15, 2025 — here’s what retirees said about grocery prices.
Spending Significantly Less
One of the questions asked in the survey was if retirees were spending a lot less at the store compared to last year. With the price of food going up, it’s not surprising that most older Americans felt they were not saving money at the register. In fact, just 2.61% said they were spending significantly less.
Spending Slightly Less
Only 2.24% of people of retirement age said they’re spending slightly less. Again, this is not very surprising considering food prices are increasing.
Spending About the Same Amount
With the price of eggs skyrocketing and meats, poultry and fish increasing by 4.2% between 2023 and 2024, it’s a wonder how people are spending less — or even the same amount — at the store. However, according to the survey, 13.43% of retirees said they’re paying around the same for food this year as they did in 2024.
Spending Slightly More
When asked if retirees were spending slightly more at the store, this percentage jumped to 33.96%. According to the CIP 2024 Review, food in all six major food groups at home increased from 2023 to 2024.
Spending Significantly More
When it comes to shelling out money at the grocery store, the top answer among retirees was that they are paying more in 2025. According to the survey, 47.76% seniors aged 65 and over stated they were paying significantly more in groceries compared to 2024.
There’s no denying that food prices are on the rise again, but why? Besides inflation, reasons include global conflict, corporate greed, transportation costs and fuel, fair labor wages, animal disease and bad weather, according to the Center for Science in the Public Interest.
Methodology: GOBankingRates surveyed 1,000 Americans aged 18 and older from across the country between February 10 and February 15, 2025, asking seventeen different questions: (1) When do you expect to file your taxes this year?; (2) How much do you expect it to cost you to file your taxes this year?; (3) How much do you expect to receive in a tax refund?; (4) What do you plan to do with a majority of your refund?; (5) Do you believe your tax dollars are being spent effectively?; (6) Do you believe you are paying too much, too little, or a fair share in taxes?; (7) Do you expect your tax refund this year to be more or less than last year?; (8) Do you depend on a tax refund to make ends meet?; (9) If you owe more than $1,000 on taxes this year, can you afford to pay it immediately?; (10) What do you understand the least about your taxes?; (12) What concerns you the most about Tax Day?; (11) What concerns you the most about Tax Day?; (12) Do you believe the ultra wealthy should be taxed more, less or the same?; (13) Do you believe the middle class should be taxed more, less, or the same?; (14) What salary do you believe is needed to live comfortably in the US in 2025?; (15) What is the minimum salary you believe is needed to be upper class?; (16) What salary do you believe is needed to afford a home in the US in 2025?; and (17) Are you spending more/less on groceries than last year?.
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