Food Inflation, Hottest Since 1978, Gives Consumers a Gut Check
Retrieved on:
onsdag, juni 21, 2023
Bureau of Labor Statistics, BBQ, Travel, Food, Generation Z, Drink, Face, Poultry, Bureau, Ice cream, Beer, Cheese, Lettuce, FAO, Stomach, Fourth, Butter, Bailey, Grief, Social Security, Cooking, Heel, Happiness, Rabobank, Social, Transport, Cookout, Family, Wine, Restaurant, Fast food, Poultry farming, Video game, Dairy
NEW YORK, June 21, 2023 /PRNewswire/ -- It's summertime but the grilling isn't easy. As families across America prepare to celebrate the Fourth of July with the time-honored tradition of a backyard barbecue, it's hard to ignore that near-record food prices have taken a big bite out of household budgets. Up and down the supermarket aisles, we have seen hefty price tags that are difficult to stomach.
Key Points:
- ), prices for soda, up 53%, white bread, up 51%, and potato chips, up 46%, saw the highest inflation on the barbecue table.
- "Consumers have taken some heavy punches but they're still standing," said Tom Bailey, senior consumer foods analyst at Rabobank.
- And while demand disparities exist across income brackets consumers have been reluctant to give up indulgences on food.
- The FAO food price index, which tracks changes in international food commodity markets, is down 22% from its May 2022 high.