Posted on 06/06/2023 6:15:02 AM PDT by Diana in Wisconsin
The past few months of robust grocery store sales would suggest that shoppers aren’t stretched for cash. But that’s not the full story.
Food manufacturers like Kellogg (K), PepsiCo (PEP) and Nestlé all reported sales growth in the first quarter of the year.
But even though sales are up, people are buying less. Growth has been fueled by higher prices, which offset declining volumes.
“If you look at the top-line dollar sales, it is obviously very positive,” said Alastair Steel, executive, client engagement for market research firm Circana, where he works on strategy and consults for clients. “But it really is driven by price increases.”
This year through May 21, compared to the same period in 2022, sales of fresh eggs by volume fell 4.7%, milk dropped 3.9%, packaged bread fell 3.8%, and fresh root vegetables slid 3.5%, according to Circana, which tracks US retail sales. In that time, dollar sales of eggs rose by 41.2%, milk rose by 0.9%, bread jumped 8.5% and fresh root vegetables rose 10.7%.
Prices of each of these items rose during that period. Fresh eggs shot up 48.2%, milk rose 5%, bread rose 12.7% and fresh root vegetables went up 14.7.
Steel noted that early in the pandemic, when people stopped eating at restaurants and stocked up on pantry staples, unit sales soared. Since then, they’ve been coming down. Some of that can be attributed to an “unwinding” of that 2020 boom, he noted. At that time, people could also use Covid stimulus payments to cover costs. Those who were working from home didn’t have to spend money commuting.
(Excerpt) Read more at channel3000.com ...
My 2-week grocery bill averaged between $55 and $65 two years ago.
Now, it runs between $90 and $105 for essentially the same items.
I did noticed last week that egg prices have dropped drastically — $1.18/doz at Aldi’s.
Starting tomorrow 7 oz. salmon filets at Safeway are $4.99. Chicken breasts $1.99/lb. Challenge butter $2.99/lb. Northern Calif.
Gotta look but it ain’t easy. The butter requires a coupon.
This past week our grocery store had chicken thighs, buy one pack, get two free. So it came out to right at $1 per pound! We used some right away, and then wrapped the others to go in the freezer.
I have to take advantage of every coupon I can, and every sale if it’s something we use. Very little room for frivolity.
Those are some decent prices for the salmon and the chicken breasts!
Last week I got store brand butter for $1.49/ lb with sale and digital coupon. Stocked up for the 5 that I was allowed.
A friend in CA told me the other day that a dozen eggs are now anywhere from $5-$10.00!
But, it has nothing to do with Socialist Democrat policies, LOL! (She didn’t say that; I did.)
Also probably going out to eat less due to inflation.
“maybe inflation can solve the obesity problem!”
That’s a lot of gas!
The DemoRat voters will erroneously blame it all on corporate greed and dismiss their DemoRat overlords who caused such inflation. Hope they feel the pain they voted for. To be objective there is some corporate greed involved in the mix. Look at liter bottles of soda. They fill those with empty space about 3 inches from the top. It’s colored sugar water dammit, fill it to the top.
*** The DemoRat voters will erroneously blame it all on corporate greed and dismiss their DemoRat overlords who caused such inflation.***
^^^THIS
Ze bugs are pretty cheap, no?
this might even solve the declining birth rate issue! less obese people are more desirable and people might start having babies again!
Costs more, buys less.
They are just now figuring this out?
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Not only that, they are giving out stock market advice too!
Psst..... Buy low and sell high.
$11 a pound for salmon. Not bad if it’s wild caught.
Here in Florida I bought a pound of wild caught salmon for $13 a pound. I can make several meals out of a pound of salmon by stretching it with sweet potato, etc. to make salmon patties. I am making them now but probably will attain 8 meals. And then freeze the patties to be pulled out later for a meal. I’m Can’t get a meal for that price at any restaurant I know.
Butter at Walmart here is four dollars a pound sometimes five. Organic milk $4.50 at Walmart for 1/2 gallon. Six dollars at Publix at least.
Paper goods prices are astronomic….a ream of office printing paper is at least $10, before it was around $6-7.
I believe you, but I have not purchased office supplies in a long time. I’m sure if I did I would be very upset about the cost.
its easy to spend 30.00 and fill up one and half bags of food
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