Escalating Meat, Produce Prices Most Worrisome: PG Online Poll
Results of PG’s most recent online poll data finds escalating meat and produce prices weighing most heavily on minds of retail trading partners heading into summer, when sales of grill-friendly proteins, and fresh fruits and vegetables, are of pivotal importance, as indicated below:
“What categories are taking the hardest hit from escalating prices?”
Meat (processed, fresh) - 39.82% (131 votes)
Produce - 22.19% (73 votes)
Dairy - 14.59% (48 votes)
Center store staples - 12.46% (41 votes)
Beverages (coffee, soft drinks) - 10.94% (36 votes)
Total Votes: 329
Indeed, the U.S. Department of Agriculture reported that nationally, overall food prices jumped 3.9 percent from April 2010 to last month. Coffee prices have soared nearly 14 percent in the past year, while beef and pork prices jumped10.4 percent. Dairy prices, meanwhile, are also up 6.3 percent, with eggs up 4.8 percent and fresh vegetable prices up 4.5 percent.
On the bright side, poultry prices are up a mere 2.3 percent, fresh fruit, 1.6 percent, and carbonated drink prices less than a percent.
Rising food costs have triggered a flood of price increases from most major food makers, and the government is now projecting grocery store food prices will rise 3.5 percent to 4.5 percent in 2011, while restaurant food will rise 3 percent to 5 percent.