Inflation Archive
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Seafood Prices Spiking Amid Russian Sanctions
Sanctions against Russia for its invasion of Ukraine are hitting the supply of seafood in the U.S., sending prices higher. Data from IRI pegs fresh fish volume prices up 8.9% for the 52 weeks ended …
Is There an Inflation Tipping Point for Restaurant Spending?
Are consumers willing to shell out $20 for a cheeseburger, fries, and a milkshake at their favorite fast-casual restaurant? As inflation and gas prices soar, we’re likely to find out soon. In fact, consumers appear …
The Toll of Rising Inflation and Gas Prices for Consumers
The one-two punch of soaring inflation and record-breaking gasoline prices is likely to have an increasingly painful impact on consumers. In fact, the Labor Department reported Thursday that the Consumer Price Index, or CPI — …
Can Meat Industry Maintain Record-Setting Sales?
The recently released 2022 Power of Meat report indicated pandemic-induced inflation sent meat prices soaring, with sales hitting a record $81.8 billion in 2021, an increase of 0.3% from the previous year. Those record sales …
Inflation Is Surging and Dollar Store Sales are Too
With inflation running at its highest level in four decades, consumers are pinching their pennies and looking to dollar stores to stretch tightening budgets. With inflation currently running at 7.5%, consumers are getting nervous about …
Grain Markets Monitor Russia-Ukraine Conflict
U.S. consumer support for domestic agriculture has grown stronger, according to a new survey from the United Soybean Board. In fact, 78% of respondents said it’s important to purchase U.S.-grown food, an 8% increase from a …
Consumer Purchasing Behavior Appears to Be Unchanged Despite Inflation Woes
Inflation is still a major concern for consumers, but it’s not stopping them from spending. INFLATION A CONCERN FOR 9 OF 10 AMERICANS Almost 90 percent of all adults in the U.S. are concerned about …
Russia Invasion of Ukraine to Push up Energy, Food Prices
The United States and its allies are escalating sanctions against Russia as a result of its invasion of Ukraine that could ripple through the world economy, aggravating inflation and supply chain issues, and prompting consumer …
Inflation, Supply Chain Creating Rare Challenges in Champagne World
To say that the champagne world is a bit “off-kilter” these days would be a significant understatement. The Financial Times reported in late December that retail champagne prices (especially vintage champagne) had increased 30% in …
How Much Inflation Can Consumers Handle?
Inflation at the grocery store continues to rise — and consumers are noticing. In fact, the CPI food at home index rose 7.4 percent over the last 12 months, according to The Bureau of Labor …
Zeroing In on Rising Egg Prices
It’s clear that egg prices rose in the first month of 2022, but determining a definitive cause is a bit more elusive. The price of a dozen large white eggs rose to a national average of $2.08 on Feb. 9, representing a 22.5% increase month-over-month.
Amazon Reports Higher Sales and Prime Membership Price Hike
Amazon sales continue to rise, with the e-commerce giant reporting fourth-quarter sales grew 9.4% to $137.4 billion. Notably, Amazon had its biggest-ever Black Friday to Cyber Monday holiday shopping weekend. Further, during the holiday season, …
Poll: Americans Bracing for More Inflation as CPG Prices Rise
Nearly eight in 10 Americans expect inflation to persist over the next six months—and they’re probably right. Half even anticipate it to increase “a lot,” while 78% expect interest rates to rise, according to a …
Economist: Higher Costs Expected for Super Bowl Parties
What will the cost of your Super Bowl spread be this year? About 8% to 14% more than 2021, according to Wells Fargo’s inaugural Super Bowl Food Report— a light-hearted look at food and beverage …
Inflation Outweighs Pandemic Concerns, Consumer Survey Shows
Americans’ concerns are shifting from the pandemic to inflation, according to a new poll. The Associated Press-NORC Center for Public Affairs Research found that just 37% of Americans say the virus is one of the …
How Much Are People Willing to Pay for Cereal?
A new report sheds light on just how much consumers are willing to pay for their favorite cereals in the current inflationary environment. Veylinx, a consumer insights platform that uses behavioral research to predict purchasing …
Experts Weigh In on 2022 Inflation Outlook
Consumers Continue to Spend Despite Drop in Economic Optimism
Consumers are making purchases at a record clip, but economic sentiment continues to wane. Spending across Bank of America’s network of debit and credit cards has surged — mainly in entertainment, travel, and restaurants — …
Holiday Shopping Trends: Inflation Impacts Low-Income Shoppers, Gift Card Sales Surge
The National Retail Federation says the holiday-shopping season appears to be on track to exceed its sales growth forecast of between 8.5% and 10.5%, reported ABC News (Dec. 20). However, with four in 10 Americans …
Inflation Eating Away at Food Industry Profits
Americans are feeling the effects of the pandemic in their pocketbooks, with inflation rising at its fastest clip in four decades. This morning, the Labor Department reported that the Producer Price Index for final demand …
Analysis: Impact of Food Inflation Especially Apparent in Rural US
Global food prices are at their highest in a decade, according to the United Nations’ Food and Agriculture Organization (FAO). In November, the FAO’s food price index climbed for a fourth straight month, rising 1.6 …
Supply Chain Update: Port Negotiations, Omicron Variant and Trucker Shortage
Amid surging inflation and a new coronavirus variant, here’s an update on what’s happening across the supply chain. LABOR TALKS AT WEST COAST PORTS West Coast port facility operators will open negotiations with the International …
Experts: Inflation, E-Commerce Require Companies to Rethink Strategies in 2022
During CPG Growth Strategies in an Inflationary 2022 – a recent webinar presented by IRI and RBC Capital Markets – experts noted what to expect in the months ahead regarding food prices, the labor pool, …
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UPDATED: Sysco, US Foods’ Steep Prices Hikes a Harbinger of Things to Come?
(Updated Nov. 11, 2021 with Sysco Q3 numbers) Prices for supplies from foodservice distribution giants US Foods and Sysco rose 11.5% and 13.4% respectively during the third quarter but had little effect on soaring demand …
Bird Flu Sweeping Across Europe
Bird flu is spreading across Europe with Poland, the continent’s largest poultry producer, and Britain reporting the latest cases, following outbreaks in Denmark, France, Germany, Italy, Netherlands and Russia. Poland reported several outbreaks of H5N1 …
Food Banks Facing Uncommon Burden Ahead of Holidays
U.S. food banks are facing two major struggles at the moment: increased demand from consumers sidelined by the pandemic and surging food prices amid supply chain issues. Many people found themselves facing food insecurity during …
Thanksgiving 2021: Buy Early, Expect Higher Prices, Look for Substitutes
Following a year of supply chain issues and inflation, Thanksgiving dinner could look a little different—and more expensive—this year. Consumer Reports found that turkey prices could go up anywhere from 10 to 15% this holiday …
Growth of Western Diet in Asia Sparks Demand for American Cheese
U.S. exports of American cheese, including the processed staple coveted for melty grilled cheese sandwiches, are surging as buyers in Asia can’t get enough. Shipments increased by 71% from a year earlier to just over …
Report: Cost of Breakfast Commodities Hits 10-Year High
The cost of ingredients for breakfast staples continues to rise as global food production, processing and transportation challenges collide with higher demand from the pandemic rebound. According to the Financial Times breakfast indicator, futures prices …
Food Industry Financials: Don’t be surprised to spend an extra $6K on food this year
Here are trending economic and food industry data points, as well as major economic and company earnings releases for the coming week: grocery inflation, menu price hikes, cost saving ideas, and more. Don’t be surprised …