Spins data show sharp Memorial Day weekend price moves: beef hot dogs +18.3%
YoY, fresh ground beef nearly +15% YoY, soda +11.4% and barbecue sauce +11.6%.
US CPI at-home food rose 0.7% MoM in April, the biggest monthly increase in
almost four years. Walmart CFO Reni says low-income consumers are tightening
budgets. California Polytechnic State University professor Richard Walpe says
part of the rise is a short-term shock from the Iran conflict and a Strait of
Hormuz closure; even if the conflict were resolved immediately, he warns ripple
effects could affect the food system through late summer and fall and may
persist for some items, including animal protein, into 2027.
