Ingredient prices were mixed in 2022. Several backed off from 2021 but remained historically high. Some strengthened. A few set record highs.

Hormel Foods Corp. will increase advertising spend on its turkey portfolio in fiscal 2023 after raising prices in fiscal 2022. Highly pathogenic avian influenza (HPAI) should continue to impact the turkey category negatively in the next fiscal year, but to what degree remains unknown.

Retail food and beverage price increases are finally beginning to slow, according to data from IRI.

Indulgent foods, including chocolates, confectioneries, savory snacks and ice cream, are likely to see a notable dip in retail sales as a result of inflation, according to market research firm GlobalData.

A handful of plant-based categories are seeing an uptick in adoption, but a much larger portion are seeing declines in penetration, according to data from the Brightfield Group. 

Ongoing inflation is providing a boost to The Kroger Co.’s portfolio of private brands, as many budget-conscious shoppers seek to curb costs.

The rising costs of goods continues to shape consumers’ decisions as they choose to eat in and spend less at the store, according to recent data from recently merged market research firms IRI/NPD.

The average price paid for white pan bread increased 4.1¢ per lb in August, according to the latest data from the Bureau of Labor Statistics of the US Department of Labor.

Despite inflationary pressures on all foods, continuing high demand for convenience is driving big sales of value-added produce products, which typically yield higher margins for commissaries and retailers.

With global meat prices continuing to rise, as the FAO Food Price Index reports, consumers and the industry are looking to reduce costs, such as by focusing on underutilized pork products.