To Inflate or Not to Inflate Your Pricing
The best time to measure the privilege of being an iconic brand is any period of rapidly spiking inflation. The Consumer Price Index has jumped 8.5% in the last year alone. And the country’s most …
Inflation Archive > Page 4
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 …
Expert: Brands Must Consider Emotional Factors of Inflation
How will consumer behavior shift as prices climb amid inflation? Most c-suites – in food business, and beyond – are inadvertently approaching this question with a purely rational framing, evaluating the marketplace as if every …
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 …
Bacon Battles Soaring Inflation with Innovation
As record high prices put a damper on bacon sales, retailers and producers are leveraging innovation to help drive consumer engagement. Per IRI data, dollar sales for bacon totaled $6.4 billion in the week ending …
How Restaurants Can Retain Price-Conscious Consumers
A recent survey of middle-income households shows 57% anticipate buying fewer takeout and dine-in meals, reported Restaurant Business (April 20). At the same time, restaurants are struggling to keep prices in check. With these factors in …
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 …
Analyzing Whole Foods Foot Traffic
A new report from Placer.ai, titled Placer Spotlight: Whole Foods’ Journey Since the Amazon Deal, takes a closer look at Whole Foods foot traffic data over the past several years. Here are some key takeaways: …
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 …
Deli Prepared Foods Thriving Despite Inflationary Squeeze
As rampant inflation tightens its grip across the food industry, many consumers are cutting back on grocery staples and trading down to cheaper items. All the while, higher-ticket prepared food sales are soaring. Comparative unit …
CPG Food Brand Loyalty Taking Hit Amid Rising Inflation
With inflation raging, consumers are beginning to cut costs on everyday CPG food items. And as a result, brand loyalty is taking a hit. Private-label brands, after two pandemic years in which they lost market …
As Bird Flu Outbreak Grows, Egg Prices Spike
In the last week, the USDA has added six states to the list where highly pathogenic avian influenza (HPAI) has been detected. The Animal and Plant Health Inspection Service confirmed the presence of bird flu …
Skyrocketing German Grocery Prices Seen on Soaring Inflation
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 …
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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 …