Beverage Industry logo
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Beverage Industry logo
  • NEWS
    • R&D News
    • Supplier News
  • PRODUCTS
    • New Products
    • Reader's Choice Poll
  • CATEGORIES
    • Alternative Drinks
    • Beer
    • Bottled Water
    • Cannabis Beverages
    • Carbonated Soft Drinks
    • Energy Drinks & Shots
    • Juice & Juice Drinks
    • Plant-Based Beverages
    • Sports Drinks
    • Tea and Coffee
    • Wine & Spirits
  • R&D
    • Beverage R&D Features
    • Ingredient Spotlight
  • PACKAGING
    • New Packages
    • Packaging Equipment
    • Packaging Material
  • OPERATIONS
    • Distribution
    • Plant Focus
  • TOP LISTS
    • Beer Market Report
    • Executive of the Year
    • State of the Beverage Industry
    • Top 100 Beverage Companies
    • Truck Report
    • Wholesaler of the Year
  • MEDIA
    • eBook
    • Podcast
    • Polls
    • Videos
    • Webinars
  • DIRECTORIES
    • Annual Manual
    • Contract Packaging Guide
    • Take a Tour
  • MORE
    • Classifieds
    • Channel Strategies
    • eNewsletters
    • Events
      • Membrane Technology Forum
    • Interactive Product Spotlights
    • Market Insights
    • Sponsor Insights
    • Store
    • White Papers
  • EMAG
    • eMagazine
    • Archived Issues
    • Advertise
  • SIGN UP!
Beverage News

IRI launches CPG Inflation Tracker to track weekly changes

Prices for beverage alcohol and beverages up compared with last year

Beverage News
May 8, 2020

Chicago-based Information Resources Inc. (IRI) announced the launch of the IRI CPG Inflation Tracker on its free, online COVID-19 Data Dashboard. The new tool provides a standard metric for tracking weekly price-per-unit changes for consumer packaged goods compared with the year-ago period across departments, including fixed and random weight products, grocery aisles and retail formats.

This resource allows CPG manufacturers and retailers to assess in real time the way pricing is evolving due to the supply chain and economic impacts of the pandemic and quickly adapt their strategies.

“COVID-19 is severely impacting the supply chains of products throughout the store, resulting in large pricing fluctuations across categories and shopping channels week to week,” said Krishnakumar S. Davey, president of strategic analytics for IRI, in a statement. “Price per unit inflation can be attributed to four factors: increases in price per volume due to price increases, prices rising due to reduced price promotions, trading up to higher priced products and finally, purchasing of larger packages which cost more as consumers stay at home and consume more. For example, the price per unit of milk in multi-outlets during the past few weeks has increased 9 percent, made up of a roughly 5-6 percent increase in price per volume and a 3 percent higher volume per unit, compared to the same period last year. Our new inflation tracker helps CPG manufacturers and retailers react more quickly to volatile pricing trends, enabling them to ensure their products are priced appropriately and anticipate consumer reactions to further changes in price.”

The IRI CPG Inflation Tracker is available on IRI’s website through the COVID-19 Data Dashboard and will be updated weekly with IRI’s point-of-sale data. Measured channels represented in the index include convenience and multi-outlets (food, drug, mass, club, dollar, military), including click-and-collect orders for all brick-and-mortar stores, as well as delivery services like Instacart. The tracker also includes insights into changes in price for each unit by U.S. state and region for edible and nonedible products.

 The following are key insights revealed by the IRI CPG Inflation Tracker in recent weeks:

  • During the week of April 26, average prices per unit in edible departments were up 10 percent compared with the same week last year, and prices of nonedible aisles were up an average of 5 percent.
  • Pricing in the meat and bakery categories also experienced significant inflation compared to the year-ago period, with 11 percent and 9 percent increases, respectively. Meat prices accelerated by 10 percentage points compared to the previous week.
  • The price for each unit of items in the frozen food, refrigerated food, beverages and beverage alcohol categories were all up more than 10 percent compared with the same week last year.
  • Paper products drove the significant increase in prices among nonedible departments, with a 20 percent price increase over prices the same week last year.

 “This index is even more valuable when used in conjunction with the IRI CPG Demand Index, which measures consumer purchases, by dollar sales, against the year-ago period,” Davey said. “CPG manufacturers and retailers can easily compare data between the two platforms to better understand the relationship between supply and demand as consumer spending habits change and businesses gear up to recession-proof their portfolios. We typically see the sales volume of food products decline shortly after major price increases in large store formats. Interestingly, similar patterns appeared during the Great Recession: food inflation was high, and unit and volume sales declined across many grocery categories. By comparing data between IRI’s Demand and Inflation indices, you can see a similar trend as today’s shoppers start to shift toward value-tier brands or private label products as prices of consumer goods inflate in the recessionary period. In fact, IRI surveys indicate that more than 70 percent of shoppers are already feeling the pinch and think prices have risen in the past few weeks.”

To help CPG manufacturers and retailers navigate pricing during a recession, IRI just published its latest thought leadership report, “Maintaining Pricing Discipline During a Recession.”

KEYWORDS: beverage sales consumer insights Consumer Packaged Goods (CPG)

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Recommended Content

JOIN TODAY
to unlock your recommendations.

Already have an account? Sign In

  • Chocolate, Strawberry, Vanilla shakes

    Classic flavors provide reliable, consistent results for beverage-makers

    Classic flavors of chocolate, vanilla and strawberry...
    Ingredient Spotlight
    By: Chloe Alverson
  • Free Spirits Instant Bar Bundle

    Lifestyle trends drive growth for non-alcohol category

    As lifestyle trends continue to drive growth for the...
    Wine & Spirits
    By: Lauren Sabetta
  • Younger generation displays unique habits when it comes to beverage consumption

    Generation Z shakes things up in beverage

    Experts share that Gen Z is changing the standard on what...
    Beverage News
    By: Chloe Alverson
Subscribe For Free!
  • eNewsletters
  • Online Registration
  • Subscription Customer Service
  • eMagazine Subscription
  • Manage My Preferences

More Videos

Sponsored Content

Sponsored Content is a special paid section where industry companies provide high quality, objective, non-commercial content around topics of interest to the Beverage Industry audience. All Sponsored Content is supplied by the advertising company and any opinions expressed in this article are those of the author and not necessarily reflect the views of Beverage Industry or its parent company, BNP Media. Interested in participating in our Sponsored Content section? Contact your local rep!

close
  • Fourpeople toasting with cocktails made with low-sugar ingredients, celebrating healthier drink options.
    Sponsored byCargill

    What’s Hot in Sugar Reduction: Beverages

  • chocolate milk
    Sponsored byCargill

    Sweetening the Future for Dairy and Dairy-Alternative Beverages

  • woman pouring a drink
    Sponsored byFFP

    Building a Beverage System: Meeting Consumer Demand for Precision Wellness

Popular Stories

halfday sodas

Beverage-makers turn to fiber, prebiotics and more to support consumer needs

smoothie

Opportunities abound for relaxation, stress-relief beverages

Mountain Dew Mango Rush

Mountain Dew, Little Caesars launch Mountain Dew Mango Rush

Vote for your favorite new product

Have your say in what makes it to the top this month!
Vote for your favorite new product and help us celebrate excellence.


VOTE NOW!

Events

April 16, 2025

2025 State of the Industry Series: Alcoholic Beverages

On Demand In Beverage Industry’s annual State of the Industry: The Alcohol Beverage Market, analysts at S&D Insights LLC delve into these trends and how they’re shaping the industry.

View All Submit An Event

Poll

Retail Coffee Segment

What retail coffee segments will fare well into the next year?
View Results Poll Archive

Products

Milk and Dairy Foods Nutrition, Processing and Healthy Aging

Milk and Dairy Foods Nutrition, Processing and Healthy Aging

See More Products

Related Articles

  • Cannabis infused beverages

    Where do beverages fit in the future of cannabis

    See More
  • Kombucha Heal-In

    Kombucha Brewers International unveils give back program

    See More
  • IRI COVID-19 April 30 Report

    Consumer shopping trips remain up, IRI data shows

    See More

Related Products

See More Products
  • nanoinbev.jpg

    Nanoengineering in the Beverage Industry 1st Edition

  • bigfood.jpg

    Big Food: Critical perspectives on the global growth of the food and beverage industry

  • nonmilk.jpg

    Milk-Based Beverages 1st Edition

See More Products
×

Elevate your expertise in the beverage marketplace with unparalleled insights and connections.

Join thousands of beverage professionals today. Shouldn’t you know what they know?

JOIN NOW!
  • RESOURCES
    • Advertise
    • Contact Us
    • Directories
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletter
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey/Respondent Access
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • YouTube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing