This Week in Retail: Seafood and Beef Lead Father's Day Ads

Feature ads for grilling favorites including steaks, chops, and ribs are abundant ahead of Father’s Day.

Seafood and beef lead Urner Barry's retail activity index this week, claiming 31.5% and 29.3% of ad space, respectively. Pork comes in with 23.6% of ad space and chicken features make up 9.3%. Egg features are up slightly from the week prior at 4.1%. 

Fresh/frozen filets make up the bulk of seafood ads at 30.5%. Cod is featured at $10.27 per pound on average, up 59% from last year. 4 oz. lobster tails run $29.58 per pound, up from $23.96 per pound in 2021...

NRF Chief Economist Says Inflation Isn’t Hitting Everyone the Same, but Will Still Play a Key Role 

Inflation is at a 40-year high but isn’t hitting all consumers as hard as top-line numbers might suggest, National Retail Federation Chief Economist Jack Kleinhenz said today. Nonetheless, consumer worries about rising prices could become self-fulfilling if workers demand higher wages to compensate and will play a role in the Federal Reserve’s efforts to bring inflation under control.

“After decades of relatively low levels, inflation is on everyone’s mind and has been making consumers and businesses..."

NRF Chief Economist Says Growth Likely to Continue Even as Fed Works to Slow Inflation

Coming up on two years since the short-lived 2020 recession, the United States appears to be at the midpoint of an economic cycle that should continue to see growth even as the Federal Reserve raises interest rates to bring inflation under control, National Retail Federation Chief Economist Jack Kleinhenz said today.

“The maturing economy remains in growth mode and there is good reason to expect it will soon approach normal trends,” Kleinhenz said. “Despite ongoing challenges, we are clearly still in an..."

This Week in Retail: Beef and Seafood Dominate Ad Space; CPI Data Released

Beef and seafood currently dominate circular ad space, providing an opportune occasion for surf and turf lovers to snag attractive deals at the grocery store. Beef and seafood account for about 29% and 27%, respectively, of retail buying opportunities this week. The next highest category belongs to pork with 19%, followed by chicken at 15%.

Over in beef, steaks make up 39% of all beef ads. Boneless strip steaks average $12.21 per pound, up from $7.47 per pound last year. T-bone steaks run $8.34 per pound, up 13.9% from 2021. The steak complex is nearly 17% higher YoY on average. The roast category is featured at an average of $6.41 per pound, up $1.47 per pound from 2021. The weekly retail beef feature index is currently at $6.75 per pound, up 20.5% from the prior 5-year average...

This Week in Retail: Inflation Climbs to 39-Year High in Latest CPI Data

The Bureau of Labor Statistics (BLS) released the latest Consumer Price Index (CPI) for November, showing the all items index up 6.8 percent over the past 12 months. This was the fastest 12-month increase since June 1982.

The food index increased 0.7 percent last month after rising 0.9 percent in both September and October. The index for food away from home rose 0.6 percent in November after gaining 0.8 percent in October, according to the BLS. Over the last year, the food away from home index has risen 5.8 percent. This was the largest yearly increase dating back to January 1982...

This Week in Retail: Spread Between Food at Home vs Away from Home Narrows

The latest Consumer Price Index (CPI) for September, released by the Bureau of Labor Statistics (BLS), showed the food index up 0.9 percent last month after gaining 0.4 percent in August. The Food at Home (FAH) index showed a 1.2 percent over the month increase with gains across all six major food group indices. The index for meats, poultry, fish, and eggs demonstrated a 2.2 percent over the month increase. The index for dairy and related products posted the smallest increase at 0.7 percent. 

The BLS defines the CPI as the change in prices paid by consumers for goods and services. Overall, the CPI rose by 0.4 percent in September. Notably, gains in the indices for food and shelter contributed to more than half of the monthly all items increase. Over the last 12 months, the all items index rose 5.4 percent before seasonal adjustment. 

The BLS reports that the index for Food Away From Home (FAFH), which was up 0.4 percent in August, gained 0.5 percent in September. Over the last year, the FAFH index rose 4.7 percent. Increases for limited and full-service meals offset a decline in the index for food at employee sites and schools...