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Cost of living in the Panama economy allows good life on $2,000
The cost of living in the Panama economy depends, as it does anywhere else, on lifestyle. The part-time housekeeper I had when I first came here used to cook several meals a week on a budget of less than $20. Panamanians, most of them, don’t shop like most North Americans. The cost of living in Panama currency for them is necessarily way lower than it will be for you or me. Many earn much less than $500 a month.
A housekeeper can be hired for as little as $10 a day or, live-in, for $120 a month.
There are large, American-style supermarkets in all cities and most towns of any size in Panama. The dominant chains are Rey and Super 99.
While researching the cost of living in the Panama economy, I did not shop for the cheapest, but mixed local and imported products with names familiar to most North Americans. Local products, often at least as good as imported products, are cheaper in the Panama currency. There are plenty of examples of both in these lists to allow you to compare.
In a few cases, I have also listed special sale prices. Since this was an afterthought, I missed some, but will get more sale prices for you when the list is updated every six months or so. The following prices represent costs in the Panama economy from October 1, 2004.
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Beverages
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Beer (local)
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12 oz can
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0.38
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Beer (Heineken)
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11.1 fl oz
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0.69
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Champaign
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750 ml
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3.75-6.95
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Liebframilch Glockenspiel
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750 ml
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5.80
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Rum (white)
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1 liter
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4.55
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Rum (white, Bacardi)
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1 liter
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7.39
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Baileys Irish Cream
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750 ml
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11.50
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Whisky (Jack Daniel’s)
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750 ml
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17.90
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Scotch whisky (Ballentine’s)
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750 ml
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12.95
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Frozen food
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Asparagus
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350 g
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1.25
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Chicken breast, breaded
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1 lb
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3.35
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Chicken fingers
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12 oz
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1.85
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Chicken legs
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1 lb
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1.89
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Corn
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1 lb
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2.05
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Fries, home
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750 g
25.6 oz
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1.89
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Fries, straight or crinkle
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2.2 lbs
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2.29
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Peas
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4.4 lbs
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4.99
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Turkey or chicken burgers
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1 lb
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2.09
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Vegetables, mixed
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1 lb
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1.79
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Fruit and
vegetables (fresh)
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Apples
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Each
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0.20-0.25
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Beans (runner)
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1 lb
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0.85
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Broccoli
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1 lb
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0.95
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Cabbage
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1 lb
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0.54
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Carrots
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1 lb
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0.55
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Cauliflower
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1 lb
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1.02
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Celery
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1 lb
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0.60
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Cucumber
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1 lb
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0.37
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Garlic
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1 lb
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0.49
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Ginger
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1 lb
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0.55
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Grapes (green)
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1 lb
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1.49
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Grapes (red)
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1 lb
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1.05
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Lettuce
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1 lb
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0.85
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Onions
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1 lb
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0.60
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Papaya
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1 lb
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1.00
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Peaches
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1 lb
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0.45
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Pears
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Each
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0.15-0.35
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Peppers (green)
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1 lb
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1.25
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Pineapple
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Whole
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1.00
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Plantain
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1 lb
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0.25
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Potatoes
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1 lb
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0.50
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Tomatoes
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1 lb
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0.65
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General groceries
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7Up
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1.5 liter
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0.89
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Barbecue sauce (U.S. brands)
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18 oz
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1.90-2.25
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Beans (dried, red kidney)
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1 lb
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0.89
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Bread (brown)
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16 oz
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0.73
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Bread (raisin)
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15 oz
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1.12
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Bread (white)
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18 oz
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0.69
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Butter
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1 lb
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1.89
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Cheese (slices)
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1 lb
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2.25
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Cheez Whiz
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8 oz
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1.99
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Chocolate drink (Nesquik)
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400 g
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2.45
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Coffee (instant, Nescafé)
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240 g
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2.59
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Coffee (Panamanian, Duran)
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425 g
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2.89
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Coffee-Mate
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6 oz
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1.29
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Cookies (chocolate chip)
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12 oz
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1.35
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Cookies (lemon crème)
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13 oz
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1.35
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Cookies (Oreo)
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15.95 oz
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2.25
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Cookies (tin, Royal Dansk)
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2 lbs
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6.69
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Cooking oil (Mazola sunflower)
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1 liter
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2.29
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Corn (sweet, canned)
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15.25 oz
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0.65
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Curry powder
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30 g
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0.45
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Gatorade
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500 ml
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0.89
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Granola bars (Quaker Chewy)
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10 bars
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2.89
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Jams (local)
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1 lb
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1.69
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Juice (citric punch)
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1 gallon
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1.95
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Juice (grape, Welch’s)
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46 fl oz
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3.79
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Juice (individual, DelMonte)
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200 ml
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0.25
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Juice (prune)
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32 fl oz
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2.65
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Juice (Tropicana, orange)
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64 fl oz
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3.65
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Juice (V8 vegetable)
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12 fl oz
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0.89
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Ketchup (Heinz)
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1.5 lbs
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1.59
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Maple syrup
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12 fl oz
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1.65
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On sale for 1.59
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Mayonnaise (Hellmann’s)
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410 g
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1.70
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Milk
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½ gallon
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1.45
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Miracle Whip
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465 g
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1.70
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Mushrooms (pieces, canned)
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15 oz
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0.79
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Mushrooms (whole, canned)
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8 oz
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1.15
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Nachos (Doritos)
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7 oz
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2.10
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Nuts (mixed, Planters’)
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6.5 oz
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2.99
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Olives (stuffed)
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21 oz
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2.10
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Oregano
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7 g
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0.24
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Pancake mix
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1 lb
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0.89
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On sale for 0.69
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Pasta (angel hair)
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250 g
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0.51
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Pasta (lasagna)
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245 g
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0.69
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Pasta (penne)
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500 g
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0.59
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Pasta (spaghetti)
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500 g
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0.59
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Pasta sauce (Ragu)
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26 oz
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2.59
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Peaches (yellow cling, can)
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29 oz
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0.99
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Peanut butter (Happy Kid’s
Crunchy)
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28 oz
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3.45
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Peas (dried, split)
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1 lb
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0.55
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Peas and carrots (canned)
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300 g
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0.63
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Pepper (black)
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2 oz
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0.70
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Pepsi
Cola or Coca-Cola
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1 liter
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0.62
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On sale for 0.59
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Pickles (dill)
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1 pint
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1.75
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Popcorn (Act II)
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3.5 oz
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0.75
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