Slow Open to 2018
The first weekly same store figures for 2018 are in and independent grocers are reporting that in the first week of January, their sales were down 1.14 percent compared to the first week of 2017. Customer counts were up 0.84 percent.
Last week the Bureau of Labor Statistics released its December 2017 consumer price index report, which showed that food at home prices continue to increase at a sluggish pace. In the past 12 months, food at home prices have increased 0.89 percent. In December, prices increased 0.1 percent.
The main driver of the modest increase was meat/poultry/fish/eggs (+0.9 percent). Also increasing was cereal/bakery (+0.2 percent). On the opposite end of the spectrum was dairy (-0.4 percent), fruits/vegetables (-0.2 percent), nonalcoholic beverages (-0.1 percent), and other (-0.1 percent).
The index for all items has increased 2.1 percent in the past 12 months and ticked up 0.1 percent in December.