SUMMARY
At-home food inflation slowed in November to 0.3% versus October but remains up 13.2% versus year ago (YA). Inflation across perimeter products was up 8.2% versus YA, while center-store inflation (including snacks and frozen foods) is levelling off but still up 14.9% versus YA.
IRI’s November 2022 price check report examines retail food and beverage price inflation across all major categories to reveal great variance in inflation across product segments. It also shares detailed Thanksgiving holiday data on inflation, promotion and consumption levels.
Observations:
- As food inflation moderates in the center-store categories, prices in the perimeter categories remain more volatile and increased more last month.
- Promotion and consumption levels for Thanksgiving main dishes and pies increased slightly this year.
- Several product categories — including root vegetables, bacon, butter/margarine/spreads and chocolate candy — declined significantly in price versus October.
