4 key numbers that highlight the stress grocery consumers are facing

Insight summary

• •Consumer sentiment regarding grocery costs improved 9% in June but remains 13% below January pre-war levels and 19% lower year-over-year.
• •Weekly food and beverage unit sales declined nearly 1% year-over-year by May 31, with May showing consistent weekly declines and perishables like seafood hit hardest.
• •Use of buy now, pay later (BNPL) for groceries rose to 29% of consumers in March, with broad appeal across demographics including Gen Z and higher income groups.
• •SNAP participation in March dropped by over 4.8 million people year-over-year (12% decline), influenced by tightened eligibility under recent legislation.
• •Grocery inflation rate was 2.7% annualized in May, near a three-year high, with significant price rises in beef, veal, coffee, and tomatoes.
• •Overall inflation hit 4.2% in May, driven largely by energy prices contributing to 60% of the increase.
• •Producer Price Index increased just over 1% in May, indicating continued wholesale price pressures.