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CHICAGO – CoolerX (formerly Cooler Screens) has released a research report based on U.S Bureau of Labor Statistics data, examining the pricing trends of key snack items (yogurt, ice cream, chocolate chip cookies, and potato chips) in an average U.S. city from January 2022 to March 2024.According to CoolerX’s analysis, the overall cost of these snack staples rose by an average of 11.04% between 2022 and 2024. Additionally, the combined price increase of these four snacks during the analyzed period is approximately $1.76.
“The surge in snack prices puts pressure on consumers, retailers, and brands,” said Gayle deDie, SVP of marketing at CoolerX. “It compels retailers and brands not only to compete on price but also to align their marketing and in-store promotions with consumer needs. They must thoughtfully engage consumers at precisely the right moment to more effectively address cost concerns, highlight product benefits, and ensure a positive impact on both the shopper experience and perceived value.”According to the U.S. Bureau of Labor Statistics, the purchasing power of $1.00 in January 2022 has decreased by 11% over a two-year period, meaning that you would need $1.11 in March 2024 to buy the same amount of goods or services that $1.00 could buy in January 2022. This 11% increase in the amount of money needed to maintain the same purchasing power is referred to as the “inflation rate.”
The price of yogurt increased by 14.72%, indicating that prices have risen 33.82% faster than the average inflation rate. Ice cream prices increased by 7.64%, meaning ice cream prices have risen 30.55% slower than the average rate of inflation. The price increase for chocolate chip cookies is approximately 11.04%, which matches the overall inflation rate. The price of potato chips increased by 10.79%, with prices rising about 1.91% slower than the average inflation rate.
