Food inflation continues to be a hot topic. Last week, the Bureau of Labor Statistics released the consumer price index (CPI) for September. The food index was up 0.9 percent in September, after increasing 0.4 percent in August. On an annualized basis, monthly food inflation in September would be 10.8 percent. Since September 2020 however, food prices are up 4.6 percent; that breaks down to food at home up 4.5 percent and food away from home at 4.7 percent. Restaurants were the final category of overall retailers to move back above February 2020 sales levels, and that didn’t happen until April 2021. Compared to February 2020, restaurant sales are now up 9.3 percent. Since 2015, the food away from home (restaurant s...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.