At-Home Food Spend Remains Strong, Despite 13% Increase in Inflation
New IRI report reveals food and beverage dollar sales will moderate in 2023, but will remain higher than the historical baseline, even as volume sales decline
IRI®, which recently merged with The NPD Group to create a leading global technology, analytics and data provider, released its Impact of Inflation on Consumer Behavior report, offering new insights on purchasing behavior and key CPG trends to note in 2023.
The report leverages IRI’s latest point-of-sale data, which reveals that at-home food and beverage inflation was up 13.2% in Q4 2022 versus Q4 2021. While consumption levels are continuing to soften, at-home food spend remains strong, with center store sales up 11.1% and perimeter sales up 6.3% in Q4 2022.