Ice cream prices continue to rise but demand for the frozen treat hasn’t melted, experts told Axios.
The big picture: Ahead of National Ice Cream Day on Sunday, the latest Consumer Price Index found June ice cream prices were up 12.5% over last year and increased 3.1% from the prior month.
– The overall CPI rose 1.3% in June alone, bringing the last year’s price gains to a sizzling 9.1% — the fastest annual pace since November 1981, Axios’ Neil Irwin and Courtenay Brown report.
Yes, but: Inflation also has hit other dairy products.
– Eggs were up 33.1% over last year.
– Margarine is up 34.5% and butter 21.4% from last June.
– Milk is up 16.4% from June 2021.
What they’re saying: “Categories such as ice cream are viewed as discretionary, but also a small treat that shoppers will still buy during inflation as they look for some small ways to treat themselves as they look for other areas to cut spending,” Ben Wynkoop, a grocery expert with Blue Yonder, told Axios.
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🍨 The latest Consumer Price Index found June ice cream prices were up 12.5% over last year and increased 3.1% from the month prior. https://t.co/BozDbE9gVh
— Axios (@axios) July 17, 2022
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