Food prices to stay high through December: ECRM
CLEVELAND, Ohio – November food prices are up vs. a year ago across most categories, according to ECRM’s monthly Promotional Pricing report tracking US food prices promoted in retail circular ads. Promoted pricing was up 11 percent vs. November, 2010, and up 2 percent vs. October, 2011, a market basket of common food staples shows.
Meats, poultry and seafood showed higher promoted prices vs. a year ago in 17 of the 19 products measured.
Beverage and dairy products showed higher promoted prices vs. November of 2010, although these prices were lower than in October, 2011. The fresh produce department experienced a mix of both higher and lower promoted prices.
"We expect these higher food prices to continue into 2012, but aggressive retail promotions for fresh fruits and vegetables may help to keep produce prices in check through January as shoppers traditionally look for healthier food choices," said Jason Marshall, ECRM senior promotions analyst.