Dairy Processing - January/February 2023 - 49

A SLOW DOWN
Retail food and beverage price increases are beginning to
slow, according to data from IRI.
While prices in September were 13% higher than the same
time last year, they did not grow significantly from July to
September. The market research firm said the flattening price
curve is a noticeable deviation from the consistent increases
between January 2022 and July.
Dairy prices, however, remain higher than other categories.
" General food prices were up 13% last year, but food
inflation is now down to 12%, " Dubay said. " But dairy prices
are up 16%. Be prepared to be referred to as Big Dairy, " he
told Dairy Forum attendees.
Consumers are bargain hunting, shifting to larger pack
Transportation woes continue to affect the supply chain
as the current workforce ages out but demand for freight
continues to increase.
The nature of the economy
is to grow and grow strongly ...
that hasn't changed. "
Curtis Dubay, US Chamber of Commerce
sizes and steering clear of highly inflated categories to avoid
large grocery bills. The change in behaviors resulted in
decreased sales volumes for inflated categories like canned/
bottled fruit, frozen dinners and shelf-stable dinners, each of
which declined more than 10% in September.
" September data revealed some welcome news for
consumers: price inflation is slowing down for the first time
this year in the perimeter categories that account for nearly
$200 billion in annual retail sales, " said Krishnakumar Davey,
president of thought leadership for IRI. " However, overall
grocery bills are still significantly higher than this time last
DAIRYPROCESSING.COM | JAN-FEB 2023 49
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Dairy Processing - January/February 2023

Table of Contents for the Digital Edition of Dairy Processing - January/February 2023

Dairy Processing - January/February 2023 - Intro
Dairy Processing - January/February 2023 - 1
Dairy Processing - January/February 2023 - 2
Dairy Processing - January/February 2023 - 3
Dairy Processing - January/February 2023 - 4
Dairy Processing - January/February 2023 - 5
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Dairy Processing - January/February 2023 - 7
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