While inflation is easing across most consumer-packaged goods, Numerator’s latest omnichannel consumer data indicates health and beauty products are bucking the trend.
Recent data for the four-week period ending on February 25 – a calculation of average price per item compared to one year-ago – reveals that Health & Beauty sector prices were up 12.69% versus a year ago.
Broken down by category, average price per item for balanced nutritional and healthy snacks are up nearly 18% versus a year ago, though trending downward. Hair products were up nearly 15% on average versus a year ago, with personal health care products up 11% versus the year prior.
Feminine care product inflation has flatlined, while oral hygiene, which had trended downward, is now back to 2% higher than last year. Oral hygiene, however, is way off its summer 2023 levels, which saw prices spike massively.
Grocery prices were up 2.09% versus a year ago, a decrease from the prior week, with baking goods, packaged bakery snacks and breakfast foods all trending downward. In fact, pasta and noodle inflation has reversed, with average price per item decreases of around 9% versus last year.
Week-over-week, Club, Drug, and Gas & Convenience grocery inflation have decreased – though Gas & Convenience inflation remains elevated.
The household product sector, overall, is down 5% from last year. Air fresheners and deodorizer average prices remain highly elevated – up on average nearly 16% from the same period last year, and trending upward. Laundry, household cleaner products, while elevated from last year, are trending down. Paper and plastic product average price per item, are down approximately 6%, while dishwashing detergent is down around 12% from the same period last year.
Finally, pet sector inflation continues to slide. Pet prices were down 3.57% versus a year ago, a decrease from the prior week. Pet food and treat, as well as pet spend is down.
