Category Partners Details Holiday Food Prices; Tom Barnes Details
IDAHO FALLS, ID - Christmas is less than a week away, people! Consumers are heading to the grocery store to prep for their holiday meals. According to Category Partners, national supermarket data confirms slower food price inflation as consumers see smaller price increases. That being said, the price of purchasing Christmas dinner at a supermarket will be approximately 7 percent higher than in 2022—a forecast derived using sales data provided by NielsenIQ.
“Slowing food price inflation across the supermarket is good news for consumers,” said Tom Barnes, Chief Executive Officer of Category Partners. “The data confirms that while prices remain elevated, the alarming food price inflation we saw two years ago has moderated.”
The data analysis shows that a basic Christmas dinner in 2023 purchased from a supermarket for a family of four will cost approximately $50.56, compared to $47.25 in 2022. Even with slower price inflation, prices remain 18.5 percent higher than at Christmas in 2021.
According to a press release, a sample meal was priced utilizing historical data. The sample meal projected the cost of purchasing a meal from a supermarket including dinner rolls, salad with dressing, potatoes, beans, stuffing, ham, and pie.
The data shows that the total supermarket prices this year are up 6.6 percent. However, price increases vary significantly by supermarket department. Produce, which is up 2.2 percent, is one category that has had negative or slower than average price inflation.
“Consumers should be pleasantly surprised this season when shopping for their holiday meals in most of the fresh departments at their local supermarkets. Inflation is a constant concern as consumers try to make ends meet. The slower than average inflation in the produce, meat, and seafood departments means consumers could be a little more merry this season,” said Barnes.
Barnes stated further that the best way for consumers to navigate food inflation is to be selective.
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