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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



Mintec Releases "Christmas Dinner Index 2023" Report

Mintec's Christmas Dinner Index, which measures price fluctuations across key food commodities that make up a traditional Christmas dinner (main meal and dessert), increased by 2.7% year-on-year (y-o-y) in November 2023.

 Mintec enables the world's largest food and manufacturing brands to implement more efficient and sustainable procurement strategies. We do this through our cutting-edge SaaS platform, Mintec Analytics, which delivers market prices and analysis for thousands of commodities, food ingredients and associated materials. Our data and tools empower our customers to understand prices better, analyze their spend...

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Dec 22 7:58 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


Mintec Releases "Thanksgiving Dinner Index 2023" Report; Read It Here

Mintec enables the world's largest food and manufacturing brands to implement more efficient and sustainable procurement strategies. We do this through our cutting-edge SaaS platform, Mintec Analytics, which delivers market prices and analysis for thousands of commodities, food ingredients and associated materials. Our data and tools empower our customers to understand prices better, analyze their spend and negotiate with confidence.

Mintec’s latest report, “Thanksgiving Dinner Index 2023,” is a look at the components that make up the traditional holiday dinner...

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Nov 22 9:29 AM, Urner Barry


Kroger's Freshgiving Prices are Even Low, Low, Lower than Last Year's

The Kroger Co. (NYSE: KR) today shared its zero-compromise Freshgiving meal offering customers a holiday basket that includes all the staples for less than $5 per person—even more affordable than the retailer's turkey day bundle last year. Complete with pumpkin pie, turkey at the center of the plate and plenty of fresh sides, this feast is sure to please.

"No matter how families gather, Kroger's Thanksgiving is Fresh for Everyone," said Rodney McMullen, Kroger's Chairman and CEO...

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Nov 13 11:48 AM, Urner Barry


Target's Serving Up an Easy, Affordable Thanksgiving Meal for Under $25

Target Corporation (NYSE: TGT) today announced how it is helping guests serve up an effortlessly delicious Thanksgiving meal that won't stretch their budgets. Starting today, guests can shop Target's Thanksgiving meal for under $25 online and in store, including the following must-have staples to serve four:

  • Good & Gather Premium Basted Young Turkey (Frozen) – 10 lb.
  • Good & Gather Russet Potatoes – 5 lb.
  • Good & Gather Cut Green Beans – 14.5 oz.
  • Campbell's Cream of Mushroom Soup – 22 oz.
  • Ocean Spray Jellied Cranberry Sauce – 14 oz...
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Nov 1 11:59 AM, Urner Barry


U.S. Consumers Spent More on Food in 2022 Than Ever Before, Even After Adjusting for Inflation

The USDA, Economic Research Service’s (ERS) Food Expenditure Series (FES) provides a comprehensive measure of the total value of all food purchases in the United States. The series tracks spending on food intended to be prepared at home, such as from grocery stores, and food that is prepared away from home, such as at restaurants. The FES allows Government agencies, academic researchers, and industry stakeholders to assess and track developments in consumer food-buying behaviors and the U.S. food supply...

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Oct 10 9:40 AM, Urner Barry


American Farm Bureau Federation: Turkey Prices Fall as Thanksgiving Approaches

The cost of purchasing a turkey could be lower this Thanksgiving, thanks to a drop in avian influenza cases and a recovery of the turkey population in the United States. American Farm Bureau Federation economists analyzed turkey and egg prices in the latest Market Intel report, which states the average price for an 8-to-16 pound turkey typically served for Thanksgiving was $1.27 per pound in August 2023, 22% lower than the same time last year.

“The status of HPAI (Highly Pathogenic Avian Influenza) is much...

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Oct 9 8:05 AM, Urner Barry


Amazon Used Secret ‘Project Nessie’ Algorithm to Raise Prices

The strategy, as described in redacted parts of FTC lawsuit, is part of agency's case that Amazon has outsize influence on consumer prices

Amazon.com used an algorithm code-named "Project Nessie" to test how much it could raise prices in a way that competitors would follow, according to redacted portions of the Federal Trade Commission's monopoly lawsuit against the company.

The algorithm helped Amazon improve its profit on items across shopping categories, and because of the power the company has in e-commerce, led competitors to raise their prices and charge...

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Oct 5 8:00 AM, Foodmarket


Giant Eagle Locking in Value for Customers by Lowering and Holding Prices on 800 Popular Items

Giant Eagle, Inc. announced today a new "Price Lock" on an expansive list of 800 high-quality items, including a wide variety of grocery essentials at all Giant Eagle and Market District locations and a selection of popular items at GetGo. Beginning May 4 through August 9, the "Price Lock" will reduce and control prices on these items by an average of nearly 20 percent.

"We are putting the customer at the center of everything we do," said Giant Eagle, Inc. Interim CEO Bill...

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May 5 7:34 AM, Urner Barry







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