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BUFFALO, N.Y. — Inflation really has people paying attention to their budgets as they plan their holiday menus, so 2 On Your Side got some money-saving tips. Label Tags For Clothing

Retail analyst Burt Flickinger says higher prices at the grocery store have caused more people to switch to places like Aldi, Costco, and BJ's to find good deals.

"It's almost all private label for both Aldi and its sister company, Trader Joe's, about 95%, so higher quality, and the prices can be 25 to 35% lower for private label," said Burt Flickinger, Strategic Resource Group Managing Director.

Flickinger told 2 On Your Side on Monday afternoon that a family of five can save three to five-thousand dollars a year buying private label versus name brand.

And, that's important when he says prices for anything related to eggs, chicken, and turkey can be anywhere from thirty to 100% higher this year compared to last year.

He says one strategy to save can be to wait until the last minute.

"The plan is to postpone purchases as long as possible because Walmart and Target combined have close to 30% more unsold inventory this December versus December 2021. Buy only for what you're going to eat for the day, or the week, or consume for the week, and the retailers with all the excess inventory, Kelly, will get to desperation discounting," said Burt Flickinger.

And those deep discounts are expected at the start of the new year.

"We've passed the worst of it and the best bargains in history will be in 2023, and while inflation will still be high, especially on chicken, turkey, food, and beverage items, the prices will be coming down significantly in 2023," said Burt Flickinger.

And a bonus tip for you, Flickinger says if you need to go clothes shopping wait until the new year. He says cotton prices have come way down in the past year, so he expects deep discounts on clothes in 2023.

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