May deliver more growth for the US meat department

Published 2024년 6월 28일

Tridge summary

In May 2024, the price of all foods and beverages increased by 1.2% compared to the previous year, with fresh produce and meat seeing similar price increases of 1.2%, while center-store grocery prices rose by 1.7%. The average price per pound of meat was $4.70, marking a 2.9% increase from the year before, with processed meat prices rising above $5. Despite some price increases, particularly in pork, beef, and bacon, sales of fresh meat saw a 1.5% increase compared to the previous year, contributing to a 3.7% increase in year-to-date meat department sales, reaching $42.6 billion. However, processed meat sales experienced declines. The next performance report will be released in mid-July 2024 to cover the June sales trends.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

May 2024 provided the first clean year-on-year performance look, with March and April affected by the earlier Easter timing that moved the substantial holiday sales from the second to the first quarter of the year. Inflation insights In May 2024 (the five weeks ending 6/2/2024), the price per unit across all foods and beverages in the Circana MULO+ universe increased 1.2% versus May 2023. Prices in the fresh perimeter were up 1.2% in May versus year ago, whereas center-store grocery prices increased 1.7% — the closest rates of inflation seen in several years between the two parts of the store. The May prices across food and beverages were 33% higher than they were pre-pandemic. The average price per pound in the meat department across all cuts and kinds, both fixed and random weight, stood at $4.70 in May 2024, up 2.9% from year-on-year. The average processed meat price moved above $5, up 1.3% versus prior-year levels. May inflation exceeds the 52-week inflation levels for both ...

Source: Provisioner