Shop prices in the UK grew at the fastest rate in more than a decade in May, driven mainly by accelerating food inflation. According to the latest shop price index from the British Retail Consortium (BRC) and NielsenIQ, retail price inflation rose to 2.8 percent in May, the highest figure since July 2011. It said…
UK Shop Prices Growing at Fastest Rate in Over a Decade
June 1, 2022
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Business & EconomyChinese Communist Party (CCP)COVID-19economyfood inflationinflationUKWorldzero-COVID
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Study Shows 62 Percent of Americans Will Plant More in Gardens This Year
While residents gather seeds and supplies and head out into their backyards this spring, many are expanding permaculture efforts despite the rising cost of things like fertilizer. Insights from an Axiom market report on gardening trends for 2022 showed 62 percent Americans planned to cultivate more edible plants on their property this season. More than…
Food Price Inflation Getting Worse, Farming on Idle Land Disallowed Due to Climate Goals: USDA
April 27, 2022
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Business & Economyeconomyfood inflationhigher food pricesinflationUSUS NewsUSDA - U.S. Dept. of Agriculture
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Food price inflation is rising at an alarming rate, with the annual rate en route to be the highest in recent years, according to the U.S. Department of Agriculture (USDA). The Consumer Price Index (CPI) for all food rose by 1 percent from February to March 2022. When compared to March 2021, food prices were…
New Zealand Food Prices Grew at Highest Annual Rate in Over a Decade
Food prices in New Zealand (NZ) over the year to March 2022 grew at the fastest rate, 7.6 percent, in over a decade, according to Stats NZ. It was the largest increase since the year to July 11, where prices increase 7.9 percent on the back of a GST increase from 12.5 to 15 percent….
California Crush Report
Most consumers are well aware of how impacted they are by inflation — and each industry that has to explain why its prices have gone up has a slightly different explanation. Whether it’s supply chain issues, trucking problems, delays at sea, raw material shortages or labor issues, none are the only reasons. Several explanations apply…
Snack and Drink Portions Being Reduced Due to Rising Inflation
Food prices been on the rise across the United States, forcing many food and beverage companies to reduce the content size for their products, as part of a concept called “shrinkflation.” The United States is currently facing its worst inflation rates since 1982, with confirmed cases of product shrinkage at grocery stores becoming common nationwide. Last…
High Wheat Prices Suggest More Food Inflation Ahead: Commodity Trader
March 11, 2022
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Business & EconomycommoditiesEuropefood inflationinflationMarketsRussiaRussia-Ukraine WarUkrainewheat pricesWorld
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Global wheat prices have skyrocketed since Russia launched an invasion of Ukraine on Feb. 24. Russia and Ukraine together export 26 percent of the world’s wheat (pdf), according to the U.S. Department of Agriculture (USDA). Due to the war, the three largest shipping companies in the world suspended bookings to and from Russia. In addition,…
Empty Store Shelves, Shortages Expected to Worsen Nationwide
Empty supermarket shelves are greeting shoppers nationwide. Businesses and consumers are concerned that the global supply chain crisis and renewed public health restrictions in response to the Omicron variant could exacerbate the situation. Images of product shortages are flooding the social media landscape, leading to a viral hashtag “Bare Shelves Biden.” The campaign has been…
Rising Input Costs Hit Small Farmers, Signal More Food Price Inflation Ahead
Fertilizer prices have risen during the last year, with several retail price tags going up by more than 100 percent for the product, according to DTN, a Minnesota-based company that provides real-time weather, agricultural, energy, and commodity market information. More than half of America’s large farmers anticipate prices for inputs such as fertilizer and fuel to…
Conagra Reports Lower Adjusted Operating Margin and Net Profits From Inflation, Supply Chain
Conagra Brands reported Thursday a decrease in net profits and adjusted operating margin mainly due to an increase in food costs resulting from high inflation, a loss in profits from recently-sold businesses, and transitory supply chain costs. The corporation reported a second-quarter net sales hike of 2.1 percent along with an increase of 2.6 percent…
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