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Inflation Insights | Aug 2023 | Request the Report
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In recent analysis, a prevailing pattern of diminishing inflation rates has emerged on the global stage. However, amidst this general descent in inflation, one nation, Germany, stands as an exception.
While countries globally witness a gradual reduction in inflation, we shine a spotlight on the trends within frozen categories, which have helped drive down inflation. With a notable 7% drop in inflation for Frozen Meals and a 6% decrease for Frozen Fruits & Vegetables, this sector stands out as a beacon of economic respite.
Inflation Snapshot
Effective and Everyday prices grew over the last 6 weeks. Effective Prices rose by 37 basis points while Everyday prices rose slightly more by 39 basis points. Most retailers had increases in both.
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Department Highlights
Overall CPG inflation continued to gradually fall, now at +5% from +8% in mid-May. The Edible and Perishables categories drove this reduction falling 5% and 3% respectively.
![](https://i0.wp.com/www.engage3.com/wp-content/uploads/2023/09/Overall-CPG.jpg?resize=1024%2C433&ssl=1)
Within the Edible category, the Frozen sub-category experienced the most substantial decline, with inflation dropping by 6% over the past 11 weeks.
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The most significant declines in inflation were witnessed in Frozen Fruits & Vegetables (-6%), Frozen Meals (-7%), and Shelf Stable Fruit (-6%).
![](https://i0.wp.com/www.engage3.com/wp-content/uploads/2023/09/Selected-Edible-Categories.jpg?resize=1024%2C438&ssl=1)
Channel Shifts
Consumer trips have maintained the same level as the previous year, but noteworthy increases of 4% and 2% YoY have been observed in visits to Mass and Dollar channels, respectively.
Global Trends
Inflation is falling across most of Europe, except for Germany which remained the same from 6 weeks prior. The USA saw a minor drop; however it has the lowest rate of the 7 countries analyzed.
![](https://i0.wp.com/www.engage3.com/wp-content/uploads/2023/09/Global-Trends.jpg?resize=1024%2C457&ssl=1)
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