With Christmas only a week away, experts say there is some good and bad news about the cost of groceries for Christmas dinner.

According to experts, grocery prices have gone down since this time last year. In 2022, prices were up 10%, but now they are only up 3%, right where overall inflation is.

Although prices are rising, experts note that they are not rising as quickly as they were in past years. Experts also warn that certain products are decreasing while others are increasing depending on supply and demand conditions. For example, eggs are down over 40% from last year, but due to drought conditions beef is up almost 10%.

Overall, experts say that spending comes down to what is on the grocery list. Dr. Stephanie Yates, professor of accounting and finance at UAB, cautions shoppers to try not to fall for retailers pushing certain items that they don’t need.

“You want to be careful grabbing something because it looks like a good deal. Just be very aware of your prices and needs. That’s why the price book and a shopping list are super important.”

Experts note that since this is the time of year when people tend to spend more money, planning ahead and shopping early can be beneficial due to the savings and deals available. Yates also adds that buying the generic versions of products can help savings during the holiday season.