Insights From Datasembly
January 2023 GPI Insights
For the month of December, inflation was at .35%, which capped off a year of unprecedented grocery inflation. Grocery inflation hasn’t had a double digit annual increase since 1979… until now. Using Datasembly’s Grocery Price Index, 2022’s grocery inflation was compared to the prior two years, and the results were as follows:
- 2020: 1.1%
- 2021: 6.2%
- 2022: 16.3%
Throughout the year we identified dramatic differences across the food categories Nationwide. Frozen food reported the highest percentage of inflation with a 21.3% increase while alcohol remained interestingly steady with the lowest increase of 4.2%.
Urban vs. Rural
The major differences we found between Large Central Metro areas vs Noncore Rural areas for 2022 were the following:
- The largest difference was in the Bakery category. The 2022 increase in Large Central Metro areas was 20.1% but in Noncore rural areas, the increase was 21.8% which is a 1.7% difference.
- Frozen Foods increased 22% in Large Central Metro areas but in Noncore rural areas, the increase was 20.7% which is a 1.3% difference.
- Snacks | Cookies | Chips increased 17.4% in Large Central metro areas but in Noncore rural areas, the increase was 18.6% which is a 1.2% difference.