Saving Seafood

Inflation dampens US retail seafood sales in January

February 14, 2022 — Increasing inflation and spiking seafood prices hampered the category’s U.S. retail sales in January.

Fresh seafood prices soared 10.8 percent year-over-year in January to USD 8.92 (EUR 7.89) per unit on average, according to new data from IRI and 210 Analytics, led by a 17.2 percent hike in finfish prices. Frozen seafood prices jumped 10.2 percent to USD 9.94 (EUR 8.79) per unit on average, while ambient seafood prices rose 7.2 percent to USD 2.01 (EUR 1.78) per unit compared to 2021.

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Unprecedented demand for seafood battling inflation headwinds

February 1, 2022 — Inflation is expected to be a major issue impacting the food industry this year, but will hurt the seafood sector less than others, according to executives at Santa Monica Seafood and Steve Connolly Seafood.

A Reuters quarterly survey of more than 500 economists conducted in January, resulted in a general consensus that 2022 will bring with it higher inflation. Economists also reduced their global growth forecasts to 4.3 percent growth in 2022, down from the 4.5 percent predicted in October, in part because of steeper interest rates and higher costs of living.

Read the full story at SeafoodSource