UB Consulting: U.S. Economy and Food Industry Recap

Summary

The economy has illustrated mixed signals thus far into 2023. Inflation has remained persistently high compared to historical norms. The labor market has been resilient with low unemployment rate figures. Despite the strong wage growth, wages have not kept up with the rate of inflation.

Key Findings:

- The consumer price index for meats, poultry, fish, and eggs in January 2023 increased 8 percent from year-ago levels – the largest increase since November 2022.

- In January 2023 the unemployment rate was 3.4 percent – the lowest figure in 53 years...

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