9. INDUSTRY, INNOVATION, AND INFRASTRUCTURE

What’s the Outlook For This Year’s Super Bowl Food Spending? Wells Fargo Has Answers

Written by Amanda

Published: 5:20 am EST February 10, 2024Published: February 10, 2024Updated: 2:00 pm EST February 9, 2024

Wells Fargo has released its annual Super Bowl Food Report, and it projects Super Bowl food spending to be strong this year thanks to increased job growth.

U.S. companies hired approximately 2.4 million more workers in January 2024 compared to January 2023, while the average wage growth rose by 4.5 percent from the same period last year.

Despite the level of wage growth, consumers are still faced with food inflation. Inflation for food consumed at home has risen 1.3 percent from January 2023, while food consumed away from home has seen a whopping 5.3 percent increase from that period. 

With inflation, consumers will be diligent in selecting their food and beverages in the lead-up to the Super Bowl.

According to the report, chicken wings and grilled shrimp or shrimp ceviche are great protein choices. This is because the price of wings has decreased by 5 percent for fresh and 11 percent for frozen, while shrimp prices have decreased by 6.4 percent.

Ground beef is an option for sliders or meatballs. Despite the price of ground beef increasing by 12 percent, it’s still at an affordable $4.25 per pound. 

In addition, beer prices have increased 0.7 percent, and 12-ounce cans of soft drinks are up 4.8 percent, but 2-liter bottles are down 0.8 percent.

Read the full 2024 Super Bowl Food Report here

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Source: vista.today

Wells Fargo has released its annual Super Bowl Food Report, and it projects Super Bowl food spending to be strong this year thanks to increased job growth.

U.S. companies hired approximately 2.4 million more workers in January 2024 compared to January 2023, while the average wage growth rose by 4.5 percent from the same period last year.

Despite the level of wage growth, consumers are still faced with food inflation. Inflation for food consumed at home has risen 1.3 percent from January 2023, while food consumed away from home has seen a whopping 5.3 percent increase from that period. 

With inflation, consumers will be diligent in selecting their food and beverages in the lead-up to the Super Bowl.

According to the report, chicken wings and grilled shrimp or shrimp ceviche are great protein choices. This is because the price of wings has decreased by 5 percent for fresh and 11 percent for frozen, while shrimp prices have decreased by 6.4 percent.

Ground beef is an option for sliders or meatballs. Despite the price of ground beef increasing by 12 percent, it’s still at an affordable $4.25 per pound. 

In addition, beer prices have increased 0.7 percent, and 12-ounce cans of soft drinks are up 4.8 percent, but 2-liter bottles are down 0.8 percent.

Read the full 2024 Super Bowl Food Report here

_____





Source: vista.today

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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