Health, Beauty And Household Products Set New Inflation Records – Winsight Grocery Business

Health, Beauty And Household Products Set New Inflation Records - Winsight Grocery Business


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Inflation is causing soaring prices across grocery departments, but particularly in the health and beauty, and household categories, according to new data from Numerator.

Health and beauty product inflation rates have doubled in four months, and household product prices have exceeded 20%, according to the data and tech company’s Price Pulse and Shopping Behavior Index.

Numerator’s Price Pulse looks at purchase data and tracks changes in the prices consumers are paying for everyday goods. It is updated weekly, and also provides data on rising prices in the market. Numerator’s Shopping Behavior Index also tracks buying behavior weekly across retail channels. Utilizing the company’s panel of over 100,000 shoppers, the index is able to track emerging trends.

In April, health and beauty prices increased by 9% versus a year ago. They remained stable through June and then climbed more than 18% by July. Prices of medical products increased more than 21%. Other health-and-beauty categories that experienced increases were skincare (up 16.2%), and hair care (up 14.7%), Numerator said.

Household products were up 21.6% versus a year ago. Cleaning, paper and plastic products experienced the highest inflation rates of all the categories that were tracked in July. Household cleaning products went up 21.9%, a growth of nearly five times since the beginning of the year. Paper and plastic products increased 19.3%.

Pricing data regarding snacks and beverages was also revealed, showing inflation-spurred increases in snacks (19%), meat (14%), produce (9%), alcoholic beverages (3.7%) and other beverages, which have doubled since the beginning of the year (18.1%).

Grocery prices continue to climb, although there is some evidence they are beginning to flatten. In July, for instance, grocery prices began to “level off,” but by the end of the month, prices were up more than 15% versus a year ago, Numerator said. However, data also shows that grocery spending is also up (26% versus a year ago), with higher spending per grocery store trip (14% versus a year ago).

 





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About the Author: Eugene Berry