Inflation has had a hold of the economy for nearly three years, and it is directly impacting how consumers navigate grocery stores.
A study by Purdue University shows inflation is causing more consumers to seek out deals, and they are switching to cheaper or generic brands. 56 percent of consumers reported their food prices have risen the most compared to other household expenses.
This month’s Consumer Price Index showed food inflation was up a little more than 2 percent on the year.
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One trader said the products entering the U.S. are primarily grind and trim, noting that the volume and type of beef, on its own, should not cause a major disruption. However, he says fund traders are reacting heavily to headlines rather than market realities.
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