This Week in Retail: Protein Demand and Rising Food Inflation
Fueled by rising food inflation, consumers nationwide continue to see higher prices for protein along with other goods, both at retail and foodservice.
The Consumer Price Index (CPI) rose 8.3% in April, according to the Bureau of Labor Statistics—down slightly from the month prior. However, the latest figure was still near a 40-year high and slightly above what some analysts had anticipated.
The food index increased 0.9% last month, its seventeenth consecutive monthly increase.
Five of the six major grocery store food group indexes increased in April. The fruits and vegetable category was the only index that declined last month. The index for meats, poultry, fish, and eggs rose 1.4% in April, driven by a 10.3% increase in the egg index...
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