- Circana
- Nov 1, 2022
- 1 min read
Updated: 3 days ago
SUMMARY
Food and beverage inflation continued in October, up 1.4% over September and 13.3% versus year ago (YA). Inflation in the perimeter departments (including produce and deli) has moderated to 8.4% versus YA, while center-store inflation continues its rapid rise, now up 14.9% versus YA.
IRI’s latest Inflation Tracker deck shares all the details on the latest inflationary trends, their impact on consumer behavior and their effects on Halloween and Thanksgiving celebrations.
HIGHLIGHTS
Inflation varies significantly across the store. Fresh meat and seafood are up just 4.5% versus year ago (YA) and alcohol is up just 5.5%, while frozen foods are up 18.4%.
Consumers are responding to rising prices by reducing their consumption in some segments more than others. Volumes are down over 10% in frozen poultry, deli service lunchmeat, frozen dinners and shelf-stable dinners.
Seasonal Halloween candy prices are up 13.5% versus YA and volumes down 2.0%.
Price inflation for the Thanksgiving meal is up 13.7% versus YA, driven by high inflation for pies (19.6%) and side dishes (18.8%) and by more moderate 9.7% inflation for protein.
