Tag: Food Prices

Gen Z Among the Hardest Hit By Food Insecurity

Food insecurity is a growing global problem, and within the U.S., Gen Z is among the hardest hit. That’s according to Purdue University’s Consumer Foods Insight report, which reported 30% of Gen Z adults had …

High Food Prices Could Persist for Three More Years

Russia’s invasion of Ukraine, fertilizer shortages, and poor weather conditions across the globe, are playing havoc with global food supplies, leading to projections that food prices will remain high for years. Additionally, global food security …

Analysis: How Severely Will Inflation Impact Small Restaurants?

Half of all small business owners and nearly three-quarters of restaurateurs fear inflation will drive them out of business this year, the Alignable Small Business Inflation Poll indicates. “It’s the mom-and-pop diners and the small, …

Restaurants Grapple with Rising Chicken Prices

Chicken is not as cheap as it used to be. USDA reported prices for skinned boneless chicken breasts in the Northeast region were ranging between $3.30 and $3.35 per lb. on May 4. Food Institute …

Fresh Berry Category Ripe for Summertime Success

Berries were a powerhouse throughout the pandemic and the category continues to thrive as convenience and nutritional appeal keep consumers coming back for more. According to an April report by IRI, fresh berries are the …

As Inflation Rises, Consumers and Food Companies Pivot

It’s been four decades since consumers were slapped with a double whammy of rapidly rising food and gas prices. In the 1970s and early 1980s consumers coped by switching to generics, changing their diets, and …

Analyst: Expect Higher Egg Prices Through 2022

(Editor’s Note 6/15/2022: For updated coverage on the shell egg market, please read “Analysts: Expect Continued Demand for Eggs Despite High Prices“) Egg buyers may have found some relief in March as prices moderated, but …

3 Strategies for CPG Success During a Recession

During the Great Recession, consumers spent less, traded down, and cut back on many CPG purchases. A recent report from the IRI Recession-Proof Your Business series explored these behaviors to glean strategies for success in …

When Will Perfect Storm of Food Inflation Subside?

Call it a perfect storm: COVID led to labor shortages and supply chain issues and to fuel shortages, all of which contributed to inflation. Factor in Russia’s invasion of Ukraine and unpredictable weather, and food …

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.

Experts Weigh In on 2022 Inflation Outlook

With food more expensive than it has been in decades and inflation surging, business owners and consumers alike are worried about what the future holds. How high can prices go? When will inflation starts to ...

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 …

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 …

Restaurant Sales are Booming, But for How Long?

The restaurant industry continued to regain its financial footing in June, but the pandemic aftershocks have yet to subside. “The industry right now is extremely strong and is surging. For many operators, they have more business …

How Food Businesses are Fighting Inflation

The Federal Reserve raised its median forecast for inflation this year, projecting consumer prices will rise 3.4% in the fourth quarter compared to a year prior. Since the pandemic began, grocery bills have gone up 8%-9% …

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Food Costs Ease Following Decade-High Surge

Global food prices recently fell for the first time in a year, potentially offering some relief for consumers and easing inflationary pressures. COSTS DROP 2.5% A United Nations gauge of food costs dropped 2.5% in …

Avocado Volumes on the Rise While Prices Decline

While Americans are paying more for everything from lumber to computer parts, and with most of the food industry contending with price increases, one surprising exception can be found: avocados. While often considered one of …

FI Fast Break: April 23, 2021

In the first installment of The Food Institute’s quick-hitting news podcast, we break down the trend of major food companies raising prices, worsening drought conditions in the western U.S., meatpacker JBS’ move into the plant-based …

World Food Programme Wins Nobel Peace Prize

The Nobel Committee awarded the UN’s World Food Programme (WFP) the 2020 Nobel Peace Prize, reported Bloomberg (Oct. 9). The organization is being honored “for its contribution to bettering conditions for peace in conflict-affected areas …