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Wed. Nov 22, 2023

Holiday Meals Simplified















Biden Calls on Snack Companies to Stop 'Shrinkflation" Rip-Offs

U.S. President Joe Biden on Sunday called on snack companies to stop shrinkflation, which is when businesses cut product sizes but keep prices the same, describing the practice as "a rip-off."

"Some companies are trying to pull a fast one by shrinking the products little by little and hoping you won't notice," Biden said in a video posted on X, formerly known as Twitter, ahead of Super Bowl LVIII.

"Give me a break. The American public is tired of being played for...

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Feb 12 10:03 AM, Urner Barry



Holiday Food Prices Projected Up 7% from Last Year, 18% from Two Years Ago

National supermarket data confirms slower food price inflation with consumers seeing smaller price increases when shopping for 2023 Christmas meals. According to a data analysis and forecast prepared by Category Partners, the price of purchasing Christmas dinner at a supermarket will be approximately 7% higher than in 2022. The forecast was derived using supermarket sales data provided by NielsenIQ collected from more than 35,000 food stores in the United States.

The data analysis shows that a basic Christmas dinner in 2023 purchased from a supermarket...

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Dec 20 9:57 AM, Urner Barry


Consumer Spending in U.S. Restaurants Continued to Rise in November

Household spending is being supported by consumers' positive sentiment about their local economies.

Restaurant sales rose steadily in recent months, as resilient consumers maintained their willingness to spend on experiences.

Eating and drinking places* registered total sales of $94.7 billion on a seasonally adjusted basis in November, according to preliminary data from the U.S. Census Bureau. That was up a solid 1.6% from October’s upward-revised volume of $93.2 and represented the ninth consecutive month of sales growth...

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Dec 15 8:55 AM, Urner Barry


U.S. Stocks Trade Mixed Following Latest CPI Report

The U.S. Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) report for November Tuesday morning, showing the index up 3.1% on the year.

The latest data matched expectations and was down from 3.2% the month prior. Inflation gained 0.1% on a monthly basis in November after holding steady last month, slightly outpacing expectations.

The core CPI, which strips out food and energy, increased by 0.3% last month after rising by 0.2% in October. Over the last 12 months, the all items minus food and energy index gained 4.0%...

 

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Dec 12 10:15 AM, UB Newswires


Holiday Meals Simplified

(Family Features) With holiday entertaining on the minds of many this time of year, it's important to take steps to make setting the table stress-free and keep focus on what really matters – spending time with loved ones.

With 92% of customers expressing some level of concern about inflation, according to Walmart's Holidays 2023 Seasonal Survey, it's important to take steps to save time and money during an expensive time of year.

To help combat inflation, the retailer – which has saved customers more than $1 billion on seasonal baskets and rollbacks during the past year...

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Nov 22 9:33 AM, Urner Barry


Circana’s 2024 Food and Beverage Outlook Predicts Modest Volume Growth Following Three-Year Decline

Beverage and deli categories expected to outperform total food and beverage unit sales

Circana™, formerly IRI and The NPD Group, today released its 2024 food and beverage outlook, revealing that modest food and beverage volume growth is expected next year after three consecutive years of volume declines. The forward-looking outlook provides insight into the anticipated performance of the food and beverage industry throughout 2024, pointing to a more favorable landscape as several headwinds that weighed down 2023 are expected to recede...

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Nov 8 8:00 AM, Urner Barry


Consumers Experienced Increase in Purchasing Power in September with Slowing Inflation

Primerica, Inc. (NYSE: PRI), a leading provider of financial services in the United States and Canada, announced today the release of the Primerica Household Budget Index™ (HBI™), a monthly index illustrating the purchasing power of middle-income households with incomes between $30,000 and $130,000. In September 2023, the average purchasing power for middle-income households was 99.3%, up from 97.4% in August. In September 2022, the index stood at 89.3%.

“Wage growth outpaced the increased cost of necessities in September 2023...

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Oct 30 9:09 AM, Urner Barry


WTI Oil Prices Dip Below $90 a Barrel Following Fed Comments

West Texas Intermediate (WTI) crude futures slipped below $90 a barrel at midweek after the Federal Reserve signaled that one additional rate hike is possible this year.

In a widely anticipated move, the central bank maintained the target range for the federal funds rate at 5-1/4 to 5-1/2 percent. Fed officials re-emphasized they are "strongly committed to returning inflation to its 2 percent objective."

The central bank has raised rates 11 times since March 2022. After peaking in June 2022 at 9.1%, U.S. inflation...

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Sep 21 7:29 AM, UB Newswires


The Retail Rundown: Checking on Chicken; Latest Inflation Reading

For more than thirty years, the National Chicken Council (NCC) has partnered with major U.S. chicken producers to promote chicken sales this month—leading to September being crowned as National Chicken Month.   

In what was historically regarded as a slow period for poultry sales following the conclusion of summer grilling, increased in-store promotions and ad campaigns including chicken-centric recipes have helped extend the robust summer consumption season into September since the program's inception in 1989.

The number of chicken items found in advertisements this week based on Urner Barry's... 

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Sep 13 9:28 AM, UB Newswires


Stock Futures Rebound Early Thursday Following Fed Minutes from July Meeting, Walmart Earnings 

On Wednesday, the Federal Reserve released minutes from its latest policy meeting that took place on July 25-26, contributing to a lower close in stock futures at midweek as traders weighed the potential for additional interest rate hikes. The next FOMC meeting is scheduled for September 19-20. 

"In their discussion of current economic conditions, participants noted that economic activity had been expanding at a moderate pace. Job gains had been robust in recent months, and the unemployment rate remained low. Inflation remained elevated," said the minutes...

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Aug 17 7:30 AM, UB Newswires


Annual CPI Reported at 3.2% in July, Slightly Under Expectations

The U.S. Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) report for July, showing the index up 3.2% on the year. The latest data was slightly below expectations, which anticipated annual inflation to be 3.3% following a 3.0% rise in June. 

July's figure snapped a 12-month string of easing inflation but remains well below its June 2022 peak of 9.1%—the highest rate in four decades. 

On a monthly basis, inflation gained 0.2% in July, in line with expectations. The index for shelter was the largest contributor to the monthly all items increase, accounting for over 90% of the increase, according to the BLS...

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Aug 10 8:50 AM, UB Newswires


Restaurant Brands are Turning to Subscription Models in the Next Big Loyalty Trend

The "Global Loyalty Programs Market Intelligence and Future Growth Dynamics Databook 2023" has been added to ResearchAndMarkets.com's offering.

The global loyalty market is expected to grow by 12.7% on annual basis to reach US$135.9 billion in 2023. In value terms, the global loyalty market has recorded a CAGR of 13.1% during 2018-2022.The global loyalty market will continue to grow over the forecast period and is expected to record a CAGR of 12.2% during 2023-2027. The global loyalty market is...

 

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Jul 27 12:12 PM, Urner Barry


Producer Inflation Up Modestly in June; Unemployment Claims Decline

Today, the U.S. Bureau of Labor Statistics reported that the Producer Price Index (PPI), which measures the change in the selling prices received by domestic producers for their output, increased by 0.1% month-over-month in June. This was below trade expectations for a 0.2% gain. 

On an unadjusted basis, the index for final demand also advanced by 0.1% annually. This was the lowest level since August 2020. Economists were expecting a 0.4% year-over-year increase...

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Jul 13 8:32 AM, UB Newswires


Food Retailers & Suppliers Continue to Innovate as Inflation, Workforce, Supply Chain Issues Persist

Food retailers and suppliers, facing formidable challenges with a changing workforce, inflation, The Food Retailing Industry Speaks 2023supply chain hurdles, intense competition and shifting consumer buying habits, are investing in more creative and proactive approaches to future-proof their businesses, according to FMI—The Food Industry Association’s annual comprehensive research analysis The Food Retailing Industry Speaks 2023.

The 74th annual report finds the food industry is prioritizing innovation to increase efficiency and foster redundancies across product supply and assortments; investing in technology for worker recruiting, training... 

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Jul 12 2:37 PM, Urner Barry


CPI Eased to 3.0% in June, Slightly Below Expectations

The U.S. Bureau of Labor Statistics (BLS) recently released the Consumer Price Index report for June, showing the index last month up 3.0% on the year. This was the smallest annual increase since March 2021 and was down sharply from the June 2022 peak of 9.1%. 

The latest data was slightly below expectations, which looked for inflation to decline from 4% in May to 3.1% in June. Inflation has eased for 12 straight months but remains above the Fed's target rate of 2%, leading some traders to anticipate...

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Jul 12 8:38 AM, UB Newswires


Nearly all Canadians (91%) Identify Cooking from Scratch as a Way to Save on Groceries

Grocery prices remain elevated in Canada* and, according to new Mintel research, Canadians are changing habits to accommodate: 91% of Canadians with any cooking or meal planning responsibility agree that scratch cooking is a good way to save money on groceries. Meanwhile, four in five (81%) say they are adapting home-cooked meals to account for the rising cost of ingredients (eg meat, produce). For a quarter (77%) of consumers, the rise in food prices is pushing them to plan more of their meals ahead...

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Jul 5 12:15 PM, Urner Barry


Shoppers See Lower Inflation on the Horizon

Consumers expect inflation to stay high over coming months but decline in the years ahead to levels closer to those seen before the pandemic, according to recent surveys likely to be welcomed by the Federal Reserve.

If shoppers keep thinking inflation will fall, that will help cause it to do so, Fed officials believe. This could mean that the central bank wouldn't have to raise interest rates as high as otherwise to slow price increases.

Fed officials are monitoring expectations, among many economic factors, as they weigh how much they need to raise

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Jul 3 9:45 AM, Urner Barry


Rabobank: Food Inflation, Hottest Since 1978, Gives Consumers a Gut Check

Myriad macro forces—the Russia-Ukraine war, severe drought, higher wages and rising costs of farm inputs, transportation and energy—have combined to fuel broad-based inflation throughout the supply chain. Against this challenging backdrop, the consumer remains remarkably resilient.

The 2023 Rabobank BBQ Index, which measures the cost of staple ingredients for a 10-person barbecue, shows that it will cost $97 to host a cookout on Independence Day this year, up from $73 in 2018. Indeed, inflation has been running hot, particularly food prices, which...

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Jun 22 8:03 AM, Urner Barry


Price Relief Coming at the Drive-Through

It takes a lot to get between Americans and fattening food, but everyone has their limits.

Quick serve has been the most successful restaurant category since the pandemic hit, initially because of its ability to provide socially distanced meals and then because of a lower price point as inflation squeezed household budgets. Some upper-middle-class diners have even defected from sit-down to fast-casual eateries like Chipotle or all the way to traditional fast food. But keeping profitability high has required a delicate dance of efficiency gains and...

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Jun 16 8:22 AM, Urner Barry







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