According to The US Consumer Price Index (CPI) for June, food away from home was at 4.1%, an increase of 0.4% month-over-month, with alcoholic beverages rising 0.2% month-over-month.
F&B Insights VP of strategic partnerships Noah Tracht joins Wealth! to give insight into the rise of food inflation and how its impacting consumers and the broader industry.
In terms of the current state of the consumer dining out, Tracht states:” So largely, consumers are still dining out. They’re dining out less frequently, maybe less lunches. But when they do dine out, they seem to be spending more money. And so we’re seeing that as a sort of continued trend coming out of the pandemic, when consumers were still looking for better quality products. That coming from purchasing better quality alcohol, spirits in retail and so that transitioned into restaurants. We see that trend as continuing to happen into the foreseeable future.”
#equities #youtube #equities
About Yahoo money management:
Yahoo money management provides free stock ticker data, up-to-date news, collection of investments management resources, comprehensive industry data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at money management.yahoo.com
– Download the Yahoo money management app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo money management on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/firm/yahoo-money management
Disclaimer:
If you own the YouTube channel related to this video and do not want it to be featured here, you can contact us through our contact page. We will gladly remove it without questioning your reasons.