The drop from 10.1% inflation in March came largely as a result of slowing energy price rises, with price growth gradually cooling from the steep surge late last year. The ONS stated: “The easing in the annual inflation rate in April 2023 mainly reflected price changes in the housing and household services division, particularly for gas and electricity.”

Furthermore, the ONS added that such price changes offset rising costs coming from markets such as alcoholic beverages and tobacco, communication, transport, and recreation.

Despite cooling inflation, UK food prices remain persistently high. Food and drink inflation is hovering above 19%, falling from a 45-year high of 19.2% in March.

On a monthly basis, consumer prices rose by 1.2%, thereby outweighing the consensus estimate of a 0.8% rise. The UK’s 8.7% inflation remains higher than the European Union average of 8.1%.

The post UK Inflation Falls Below 10% For First Time Since August appeared first on theprimarymarket.com.

Wingstop led the charge with a 20.15 rise in same-store sales over the first quarter, while McDonald’s, Starbucks, and Subway each saw a rise of 12.6%, 12%, and 11.7% respectively. Chipotle, Shake Shack, and Taco Bell saw a rise in same-store sales as well.

BTIG managing director Peter Saleh claimed that this rise is a welcome surprise to many investors who would have expected rising prices to deter consumers.

Papa John’s CEO Rob Lynch stated during a call with investors that consumers have been shifting towards prioritizing value over saving money. “We’re definitely entering into a period if we’re not already all the way there…value is going to become more important than it has been over the last 3 years and so it’s critical for us to have a compelling and successful value strategy.”

YUM! Brands CEO David Gibbs claimed that his company tends to “flourish” in tough times, especially because of consumers’ gravitation towards value rather than price points. YUM! Brands own multiple fast food franchises including Taco Bell, KFC, and Pizza Hut.

The post U.S. Restaurant Spending Sustained Despite Price Rises appeared first on theprimarymarket.com.

According to Bloomberg, the restaurant chain is expected to deliver a $1.43 billion revenue, up 6.5% from a year earlier. Despite the revenue uptick, Domino’s expected adjusted earnings per share sit at $3.97, down 6.9% from the previous year.

UBS Analyst Dennis Geiger noted that Domino’s Pizza is one of the most watched and topical stocks in the industry due to its current growth and sales concerns along with its historically strong growth levels. This contrast gives analysts a strong basis for comparison when determining the extent of the impact of price rises on sales growth.

Last October, Domino’s Pizza executives announced plans to raise prices by around 7% in the fourth quarter. In raising its prices, Domino’s is keeping in line with the movements of its close competitors Papa John’s and Pizza Hut, both of which have similar price points.

The post Investors Look to Domino’s Earnings to Understand Effects of Price Increases appeared first on theprimarymarket.com.

A report released by the Bureau of Labor Statistics earlier this week revealed that the cost of food jumped 10.9% year-over-year in July. The grocery prices, which are categorized as “food at home,” saw an even bigger hike of 13.1%. This represents the highest increase since 1979.

Looking at a 12-month basis, cereals and bakery products increased 15.0% over the year, while prices of flour saw a 22.7 hike. But the biggest hike was the courtesy of eggs, which saw their price grow by 38% compared to the same period in 2021.

Fed increasing the interest rates isn’t the only thing behind more expensive groceries. Several other factors played a part, including avian flu among chickens that slashed egg production as well as a shortage of some other food items.

The skyrocketing food prices have caused Americans to adjust. According to American food giant Tyson Food, the demand for steaks has been declining as more customers are now turning to cheaper meats like chicken. The same trend was noted elsewhere, as many are turning to affordable food items and generic brands instead of sticking with high-priced options.

The post U.S. Grocery Prices Saw a 13.1% Increase in July appeared first on theprimarymarket.com.

The drop from 10.1% inflation in March came largely as a result of slowing energy price rises, with price growth gradually cooling from the steep surge late last year. The ONS stated: “The easing in the annual inflation rate in April 2023 mainly reflected price changes in the housing and household services division, particularly for gas and electricity.”

Furthermore, the ONS added that such price changes offset rising costs coming from markets such as alcoholic beverages and tobacco, communication, transport, and recreation.

Despite cooling inflation, UK food prices remain persistently high. Food and drink inflation is hovering above 19%, falling from a 45-year high of 19.2% in March.

On a monthly basis, consumer prices rose by 1.2%, thereby outweighing the consensus estimate of a 0.8% rise. The UK’s 8.7% inflation remains higher than the European Union average of 8.1%.

The post UK Inflation Falls Below 10% For First Time Since August appeared first on theprimarymarket.com.

Wingstop led the charge with a 20.15 rise in same-store sales over the first quarter, while McDonald’s, Starbucks, and Subway each saw a rise of 12.6%, 12%, and 11.7% respectively. Chipotle, Shake Shack, and Taco Bell saw a rise in same-store sales as well.

BTIG managing director Peter Saleh claimed that this rise is a welcome surprise to many investors who would have expected rising prices to deter consumers.

Papa John’s CEO Rob Lynch stated during a call with investors that consumers have been shifting towards prioritizing value over saving money. “We’re definitely entering into a period if we’re not already all the way there…value is going to become more important than it has been over the last 3 years and so it’s critical for us to have a compelling and successful value strategy.”

YUM! Brands CEO David Gibbs claimed that his company tends to “flourish” in tough times, especially because of consumers’ gravitation towards value rather than price points. YUM! Brands own multiple fast food franchises including Taco Bell, KFC, and Pizza Hut.

The post U.S. Restaurant Spending Sustained Despite Price Rises appeared first on theprimarymarket.com.

According to Bloomberg, the restaurant chain is expected to deliver a $1.43 billion revenue, up 6.5% from a year earlier. Despite the revenue uptick, Domino’s expected adjusted earnings per share sit at $3.97, down 6.9% from the previous year.

UBS Analyst Dennis Geiger noted that Domino’s Pizza is one of the most watched and topical stocks in the industry due to its current growth and sales concerns along with its historically strong growth levels. This contrast gives analysts a strong basis for comparison when determining the extent of the impact of price rises on sales growth.

Last October, Domino’s Pizza executives announced plans to raise prices by around 7% in the fourth quarter. In raising its prices, Domino’s is keeping in line with the movements of its close competitors Papa John’s and Pizza Hut, both of which have similar price points.

The post Investors Look to Domino’s Earnings to Understand Effects of Price Increases appeared first on theprimarymarket.com.

A report released by the Bureau of Labor Statistics earlier this week revealed that the cost of food jumped 10.9% year-over-year in July. The grocery prices, which are categorized as “food at home,” saw an even bigger hike of 13.1%. This represents the highest increase since 1979.

Looking at a 12-month basis, cereals and bakery products increased 15.0% over the year, while prices of flour saw a 22.7 hike. But the biggest hike was the courtesy of eggs, which saw their price grow by 38% compared to the same period in 2021.

Fed increasing the interest rates isn’t the only thing behind more expensive groceries. Several other factors played a part, including avian flu among chickens that slashed egg production as well as a shortage of some other food items.

The skyrocketing food prices have caused Americans to adjust. According to American food giant Tyson Food, the demand for steaks has been declining as more customers are now turning to cheaper meats like chicken. The same trend was noted elsewhere, as many are turning to affordable food items and generic brands instead of sticking with high-priced options.

The post U.S. Grocery Prices Saw a 13.1% Increase in July appeared first on theprimarymarket.com.