The median consumer wants to pay $1 for a chocolate bar, $2 for a bag of chips, and $3 for a gallon of gas

Prices for many consumer goods have increased substantially in recent years due to decades-high inflation, supply chain challenges and shortages, and natural cycles of supply and demand. Many studies examine what prices are being paid for select baskets of goods at any given time, but we wanted to learn what consumers think prices should be for select items, so we asked them. The Harris Poll recently surveyed a representative sample of American adults what they think the price ought to be, to the nearest dollar, for a dozen consumer staples. Below are the prices the median consumer wishes to pay:

 

Item	Median Price
1. Bunch of bananas	$                2.00
2. Head of lettuce	$                2.00
3. Full-size candy bar	$                1.00
4. Regular-sized bag of potato chips	$                2.00
5. Canned fruit or vegetables	$                1.00
6. Gallon of milk	$                3.00
7. Dozen eggs	$                3.00
8. Tube of toothpaste	$                2.00
9. Bottle of hand soap	$                2.00
10. Toilet paper (4-pack)	$                3.00
11. LED light bulb	$                3.00
12. Gallon of gasoline	$                3.00

 

And below are the average prices consumers think these goods should cost, determined by our survey:

 

Item	Mean Price
1. Bunch of bananas	$                      2.89
2. Head of lettuce	$                      2.34
3. Full-size candy bar	$                      2.13
4. Regular-sized bag of potato chips	$                      3.26
5. Canned fruit or vegetables	$                      2.20
6. Gallon of milk	$                      3.59
7. Dozen eggs	$                      3.50
8. Tube of toothpaste	$                      3.16
9. Bottle of hand soap	$                      2.92
10. Toilet paper (4-pack)	$                      4.36
11. LED light bulb	$                      4.09
12. Gallon of gasoline	$                      4.25

 

There often is a difference between what the median consumer wishes to pay and what she may actually be paying for her groceries. We also inquired into whether consumers have adjusted their shopping behavior in the past year in order to save money. Nearly half (49%) report doing so, and of them, three-quarters (74%) report buying discounted products and buying different brands (72%). Six in 10 (61%) compare prices across products, and 55% buy different sizes of products and limit the number of products they buy. About half (52%) limit the type of products they buy (only the essentials, avoiding organics, etc.) and 48% have started shopping at different stores. Fewer (41%) have changed how often they shop, and some (2%) have increased their involvement (using pick-up instead of delivery, or shopping for oneself).

 

Two-thirds (66%) of Americans say their standard grocery cart costs more now than it did a year ago, and more than half (57%) have actively looked for ways to save money when shopping. Nearly half (49%) think some of their grocery staples have fallen prey to “shrinkflation” (a producer reducing the size or quantity of a product without reducing the price) over the past year.