As Matt Herrington covered yesterday, consumer inflation was up, and on an annual basis food inflation led the all-goods Consumer Price Index (CPI), although it was below the month-to-month CPI which was driven by energy. The June CPI was 1.3 percent on a monthly basis, after increasing 1 percent in May. For June, the year-over-year inflation rate is 9.1 percent – the highest since November 1981. Food inflation was 1 percent in June, for a year-over-year increase of 10.4 percent, the largest increase in food prices since February 1981. The food-at-home index (grocery retail prices, less food service prices) was 12.2 percent on an annual basis – the largest increase since April 1979 as consumer spending on foo...
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.