Food inflation continues to remain high

Food prices continue to stay high with cereals and bakery up 16.1%, dairy up 15.3% and cost of meats up 7.7% (*1).

Some popular foods manage to surge much higher than the rest, with the price of eggs up 59.9%, margarine up 43.8% and butter up 31.4% in 2022 December (*2, *3).

Thus, it may be a good time to invest in consumer staples companies (CSC) that focus on food, such as $The Kraft Heinz (KHC.US)$ , $NESTLE SA (NSRGF.US)$ , $Tyson Foods (TSN.US)$ and $General Mills (GIS.US)$ . What do you think? Do comment and vote below.

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References:

*1: Annualised US food inflation remains above 10%

*2: Inflation is easing, but the prices of some grocery items are expected to soar in 2023 — including one whose price has risen nearly 60% over the past year

*3: Cheaper Bacon and Flour Offset Surging Egg and Lettuce Prices in December

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