Grocery Prices Jump in 1st Half of 2018
Shoppers are paying more for groceries in 2018, according to the latest data from market research company Price-Trak.
In the first half of 2018, for the 150 grocery categories monitored, 60 percent showed an increase in pricing compared with the same time period a year ago. In its report, Price-Trak noted such factors as pricing in line with rising commodity costs, retailer pressure to hold pricing, shifting consumer trends, and the increase in private label activity.
The increases were across all segments monitored from data provided by a select group of grocery wholesalers across the country.
Select category key results by segment are as follows:
- Eggs reported a 15.4% increase
- Yogurt products were up 3.7%
- Frozen fruit was up 14%
- Frozen baked goods were up 9.8%
- Shelf-stable desserts increased by 14%
- Crackers increased by 10.4%
- Pet products were up 8.7%
- Oven cleaners increased by 14.9%
Some categories saw price declines during the same time period, however, among them cereal (down 0.14 percent); snacks (down 2.9 percent); coffee (down 1.98 percent); and, most dramatically, tea (down 6.13 percent).
Albany, N.Y.-based Price-Trak, a National Promotions Reports company, provides specialized competitive cost and trade reports, monitors 150 standard warehouse categories, and provides manufacturers with syndicated reports to monitor price changes and trade allowances. The company also supports grocery wholesalers to assist with pricing and promotional allowances.