US: Year-to-date meat department pounds sold up 2.1% versus 2023

Published 2024년 10월 24일

Tridge summary

In September 2024, the rate of inflation in food and beverages increased by 2.1%, with meat prices rising by 2.2%. This was due to factors such as HPAI outbreaks impacting egg production and a general trend of higher prices for perishable items. Despite these increases, meat department sales remained strong, with a 5.5% increase compared to the previous year, driven by both higher prices and increased demand. The assortment of meat department products remained steady at 424 SKUs, which is below pre-pandemic levels. Notably, ground beef sales saw a significant increase of 9.6% in dollars and 2.7% in pounds year-over-year. The article also discusses the impact of consumer stockpiling in advance of potential disruptions due to port strikes and hurricanes.

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

Original content

September in review Inflation insights In September 2024 (the four weeks ending 9/29/2024), the price per unit across all foods and beverages in the Circana MULO+ universe stood at $4.25, an increase of 2.1% over September 2023. The third quarter of the year averaged an increase of 1.8% across all food and beverages. This is up over the second quarter (+1.5%) with the inflation rate having shown slightly higher increases over the past few months. Perishable prices were up 3.3% year-over-year in August versus 1.5% in the center of the store. Egg prices spiked due to continued HPAI outbreaks that have impacted 101 million birds in the U.S. since 2022. The average price of $4.25 is 35.8% higher than the 2019, pre-pandemic average of $3.13. The average price per pound in the meat department across all cuts and kinds, both fixed and random weight, stood at $4.74 in September 2024, up 2.2% year-on-year. The average processed meat price stayed above $5, though down 1.1% versus prior-year ...

Source: Provisioner