Food retail sales spiked significantly in 2020 (+14% from 2019 levels) due to the impact of the coronavirus and while growth fell off sharply in 2021, it continued. In 2022, sales will be challenged by shifts in consumer behavior in light of rising prices, continued trends in out-of-stock products, and increased dining outside the home. …
The CEOs of several meatpacking companies are expected to come under tough questioning from lawmakers Wednesday at a House hearing where soaring food prices are likely to take center stage.
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The grocery store is arguably where consumers feel inflation most. According to the Bureau of Labor Statistics, meat costs about 20% more than it did in 2021, and analysts expect prices to keep going up before they come back down. …
The Biden administration is targeting a small group of meat packers for high beef, pork and poultry prices that it says are squeezing consumers and fueling inflation, arguing that they are abusing their market power. …
The North American Meat Institute (Meat Institute) today said consumers saw increased meat prices in 2021 because of labor shortages, greater consumer demand, supply chain problems and other factors experienced by most sectors of the economy. …
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