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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


Fed Keeps Interest Rates Unchanged but Signals Additional Hikes in Future

For the first time in over a year, the Federal Reserve left its target range for the federal funds rate unchanged at 5 to 5.25% following the conclusion of its two-day policy meeting. 

Prior to today's decision, the Federal Open Market Committee (FOMC) had hiked interest rates ten straight times in an effort to tame stubbornly high inflation. 

The latest decision was widely anticipated after the latest inflation reading, which indicated that inflation continues to slow from its June 2022 peak of 9.1%. In May, annual inflation eased...

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Jun 15 7:59 AM, UB Newswires


Annual Inflation Slows to 4.0% in May, Lowest Since March 2021 

The Bureau of Labor Statistics released the latest Consumer Price Index (CPI) data Tuesday morning, showing the index in May up 4.0% on the year and slightly below expectations. This was the smallest annual increase since March 2021 and marked the eleventh consecutive month of year-over-year declines.

In April, annual inflation was reported at 4.9%. Additional signs of cooling inflation in the latest data boosted optimism among traders that the Federal Reserve may pause interest rate increases for the first time in a year and a half. The Federal Reserve...

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Jun 13 9:12 AM, UB Newswires


Technomic: How Historically High Inflation Impacted Top 200 Canadian Chain Restaurant Performance

Technomic released one of its most highly anticipated reports, the 2023 Top 200 Canadian Chain Restaurant Report, which includes expert findings and insights into the sales performance of Canadian chain restaurants in 2022. The report—built using decades of historical data—provides a detailed analysis of the foodservice industry and overarching trends, annual sales and unit counts by chain and segment.

“Total sales for Canada’s Top 200 chain restaurants hit $40 billion in 2022, improving by 15% compared to the prior year...

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Jun 7 9:30 AM, General News


Technomic Reports how Historically High Inflation Impacted Top 200 Canadian Chains in 2022

Technomic released one of its most highly anticipated reports, the 2023 Top 200 Canadian Chain Restaurant Report, which includes expert findings and insights into the sales performance of Canadian chain restaurants in 2022. The report—built using decades of historical data—provides a detailed analysis of the foodservice industry and overarching trends, annual sales and unit counts by chain and segment.

"Total sales for Canada's Top 200 chain restaurants hit $40 billion in 2022, improving by 15% compared to the prior year," said Kevin Schimpf, director...

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May 30 1:39 PM, Urner Barry


Restaurant Loyalty Program Points and Rewards Redemption Increased by 26% 

Lingering inflation and higher food prices in the first quarter of 2023 had many foodservice consumers looking for a deal. Customer visits to restaurants and retail foodservice outlets that took advantage of a deal rose by 8% in the quarter ending March compared to a year ago, reports Circana, formerly IRI and The NPD Group. The increase in deal visits helped to grow total commercial foodservice visits by 1% over a year ago, a traffic gain after four consecutive quarters of flat or declining growth.

Although 73% of all foodservice...

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May 26 7:22 AM, Urner Barry


2023 IFIC Food and Health Survey Shows Americans Feel the Impact of Rising Costs

The International Food Information Council (IFIC) released its 2023 Food and Health Survey today, unveiling significant findings regarding Americans' eating habits and food choices.

The 18th edition of the annual survey reveals key consumer insights around the rising cost of food, stress and well-being, the influence of social media on food and nutrition decisions, evolving eating patterns, climate consciousness, and healthy labels as purchase drivers.

"The 2023 IFIC Food and Health Survey is a comprehensive snapshot of the complex factors that shape American food and... 

 

 

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May 24 9:16 AM, Urner Barry


Great Plains Drought Hits Hay Crops

The market for hay is overshadowed by wheat and other crops hit by a drought in the Great Plains, but it can have a similar impact on food prices.

Texas, Oklahoma and Kansas are typically among the top 10 hay-producing states, according to U.S. Agriculture Department data, and swaths of each state are experiencing extreme drought, according to the National Drought Mitigation Center, a project from the University of Nebraska-Lincoln, the USDA and other partners.

This year's average seasonal price for all types of alfalfa and grass hay...

 

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May 24 8:44 AM, Urner Barry


Price of Groceries in the US has Grown 50% Faster than Overall Inflation since 2020

The line outside Boston's American Red Cross Food Pantry on a recent Saturday morning stretched the length of two football fields. The number of people filing into the redbrick industrialzone warehouse on some days now exceeds the worst periods of the pandemic economic crisis and in April it had the second highest monthly traffic since it opened in 1982, according to David Andre, the director.

His organisation, like food banks across the country, has been flooded with requests for help since foodstamp recipients were hit...

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May 9 8:00 AM, Urner Barry


Fed Issues Tenth Consecutive Rate Increase, Considers Pausing Additional Hikes

The Federal Reserve delivered a widely anticipated quarter of a percentage point rate hike Wednesday, marking the tenth consecutive increase since March 2022.

Yesterday’s move lifted the Fed's benchmark overnight interest rate to the 5.00%-5.25% range, making it more expensive for consumers and businesses to borrow in the ongoing fight against inflation. 

U.S. stocks are under pressure so far Wednesday following the latest rate hike. The S&P 500 and the Dow Jones Industrial Average were both down by 0.3% as of this writing. The Nasdaq Composite was fractionally lower...

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May 4 7:39 AM, UB Newswires


U.S. Stocks Trade Lower Ahead of Fed's May Policy Meetings

U.S. stock futures are lower ahead of the Federal Reserve’s two-day policy meeting, which begins today and concludes on Wednesday. 

Economists are largely anticipating a 25 basis-point rate hike as part of the Fed's ongoing efforts to combat inflation, which eased from 6% in February to 5% in March on an annual basis. While inflation is showing signs of slowing, it remains above the Fed's long-run target rate of 2%. 

The next Consumer Price Index (CPI) report for April 2023 is scheduled for release at...

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May 2 7:19 AM, UB Newswires


Inflation Continues to Drive FMCG Sales Value Growth Across Europe’s Six Largest Markets

Ahead of its latest biannual 'FMCG Demand Signals' report which covers Total Store Data, Circana (formerly IRI and The NPD Group), has today revealed softening of demand in unit sales across the six largest markets in Europe (France, Italy, Germany, Spain, UK and Netherlands) - a decline of -1.1% on an annual basis, deepening further by -1.4% in Q4 2022. This is the fifth consecutive quarter of decline and is not forecast to return to normalcy until the end of 2023.

Forensically unpacking the impact of the...

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Apr 28 10:27 AM, General News


Inflation Still Top of Mind for Restaurant Operators and Consumers

According to recent research, inflation remains the number one focus for restaurant operators and their paying customers.

Findings out of TD Bank’s recent survey, which was unveiled at the 2022 Restaurant Finance and Development Conference in Las Vegas, Nevada, found that the number one challenge for restaurants in 2023 is inflation. 300 restaurant franchise operators and other finance professionals provided their takes in the survey that aimed to display restaurant franchise finance trends.

Alongside TD’s poll, Circana, the new brand that was formerly IRI and...

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Mar 23 7:25 AM, General News


Stocks Fluctuate Following Federal Reserve's Latest Rate Hike

In a widely anticipated move, the Federal Reserve unanimously voted to raise interest rates by a quarter percentage point on Wednesday as part of its ongoing effort to tame inflation and slow economic activity. 

This was the ninth consecutive rate hike since last March, which brought the federal funds rate to a range of 4.75% to 5%. The latest decision came amidst the recent unrest in the banking industry and a sharp drop in regional bank stocks last week.

The Federal Reserve has indicated that additional rate hikes may be necessary...

 

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Mar 23 7:15 AM, UB Newswires


U.S. Stocks Under Pressure Following Latest PPI, Retail Sales Reports

U.S. stocks closed higher Tuesday, boosted in part by a rebound in bank shares following the collapse of Silicon Valley Bank and Signature Bank. Traders were also assessing yesterday's friendly inflation data, which was on target with pre-report expectations.

Tuesday's CPI report for February showed a 0.4% month-over-month rise, down slightly from January’s 0.5% month-over-month gain. On an annual basis, inflation slowed to 6.0% in February, down from 6.4% in January. 

Traders are anxiously awaiting the Federal Reserve's decision on interest rates during next week’s monetary policy...

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Mar 15 9:05 AM, UB Newswires


February CPI Reported 6% Higher on Year, in Line with Expectations

U.S. stocks were volatile Monday as traders assessed the fallout from the collapse of two banks in recent days. On Sunday, President Biden addressed the banking system in a press release by the White House. 

Over the weekend, and at my direction, the Treasury Secretary and my National Economic Council Director worked diligently with the banking regulators to address problems at Silicon Valley Bank and Signature Bank," said the President. 

"The American people and American businesses can have confidence that their bank deposits will be there when they need...

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Mar 14 8:05 AM, UB Newswires


Latest Jobs Report Outpaces Expectations with 311,000 Jobs Added in February 

Traders were on edge ahead of the latest jobs report for February, released by the U.S. Bureau of Labor Statistics Friday morning. The Federal Reserve has been closely monitoring the labor market for any signals of easing inflation. 

Last month, the government reported that total nonfarm payroll employment swelled by 517,000 in January, far outpacing expectations. The unemployment rate was little changed at 3.4%, which was the lowest level since 1969. 

In the latest report, the labor department said that U.S. employers added 311,000 jobs in February. While this was below last month's stout advance, it was above what economists were anticipating and signals solid U.S. job growth. The unemployment rate moved up to 3.6%.

U.S. stock futures were mostly lower Friday morning ahead of the jobs data but all three major indices have since turned higher as traders digest the latest numbers. 

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Mar 10 9:10 AM, UB Newswires


Los Angeles State of Restaurant Report Shows Operators Dealing with Increased Costs, Lower Profits

TouchBistro’s 2023 “Los Angeles State of Restaurants” report shows that restaurants in the city have recovered to 77.4% of pre-pandemic levels, roughly 3% higher than the national average. While the hope was that restaurants would steadily recover from the pandemic, other factors have impacted the process.

Thanks to rising food costs and other expenses that go alongside with running a restaurant, the report found that the profit margins for full-service eateries in LA have dropped to 9.4%...

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Feb 24 9:08 AM, General News


New IRI Report Reveals At-Home Food Spend Remains Strong, Despite 13% Increase in Inflation

IRI®, which recently merged with The NPD Group to create a leading global technology, analytics and data provider, today released its Impact of Inflation on Consumer Behavior report, offering new insights on purchasing behavior and key CPG trends to note in 2023.

The report leverages IRI’s latest point-of-sale data, which reveals that at-home food and beverage inflation was up 13.2% in Q4 2022 versus Q4 2021. While consumption levels are continuing to soften, at-home food spend remains strong...

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Feb 24 7:22 AM, General News


U.S. Stocks Under Pressure Following Latest PPI Report

Recently released data by the U.S. Bureau of Labor Statistics indicated that the Producer Price Index (PPI) in January rose by 6.0% on a yearly basis. On a month-over-month basis, the PPI gained 0.7%. The BLS reported that prices for final demand goods gained 1.2%, while final demand services increased by 0.4%. 

The index for final demand minus foods, energy, and trade services advanced by 0.6% last month. This was the largest gain since moving up 0.9% in March 2022, according to the BLS. On an annual basis, prices for final demand (stripping away food, energy, and trade services), moved up by 4.5%...

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Feb 16 8:55 AM, UB Newswires


Americans Believe Grocery Store Profits are 14 Times Higher than Reality, dunnhumby Finds

Americans believe that grocery retailers are earning a 35.2% net profit margin, 14 times higher than grocers’ actual net profit margin average of 2.5%, and that food-at-home inflation is 24.3%, double the annual rate reported by the U.S. Bureau of Labor Statistics according to the latest dunnhumby Consumer Trends Tracker (CTT) released today. The CTT is part of the dunnhumby Quarterly, a strategic market analysis of key retail themes, with the third edition being focused on navigating uncertainty...

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Feb 16 7:10 AM, General News


January CPI 6.4% Higher on Year, Slightly Above Expectations

On Monday, all three major U.S. indexes gained over 1% ahead of the latest Consumer Price Index (CPI) report. Prior to a revision, the CPI declined 0.1% in December compared to the month prior, the largest decline in two years.

Signals of cooling inflation in last month's report raised optimism among traders that the Federal Reserve would halt its interest rate hikes.

According to revisions released on Friday, December's data was revised to show a 0.1% increase in December. 

The recently released data by the Bureau of Labor Statistics (BLS) showed the index in January up 6.4% on the year, the smallest annual increase since October 2021. This marked the seventh consecutive month of year-over-year declines...

 

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Feb 14 8:36 AM, UB Newswires


Love in a Time of Inflation: How Much Will Valentine's Day Set you Back?

This Valentine's Day is set to look different after a year of record food inflation that has sent up prices of everything from flowers to chocolates and dining in restaurants.

COVID-era supply chain logjams and Russia's invasion of Ukraine have meant that Britons paid a record 16.7% more for food in the four weeks to Jan. 22 compared to the same period last year, according to research firm Kantar.

As a result, romantic Valentine dinners out will cost more and restaurants are modifying their offerings...

Full Story »
Feb 13 8:21 AM, Urner Barry







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