Grocery shoppers still cutting back even as inflation cooled in May

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Key stat: Nearly half of US adults said last month that they’re buying more brands on sale due to inflation, while 43% reported buying fewer products overall, according to Ipsos.

Beyond the chart:

• The consumer price index rose 4% YoY in May, the slowest rate in about two years.
• But food prices ticked up 6.7% YoY, keeping consumers under strain even as their dollars stretched farther than in previous months.

Use this chart:

• Determine discounting strategy.
• Fine-tune marketing messaging amid inflation.

More like this:

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Methodology: Data is from the May 2023 Ipsos report titled "Consumer Tracker: Wave 76." 1,116 US adults ages 18+ were surveyed during May 23-24, 2023. Respondents were weighted to U.S. population based on gender, age, race/ethnicity, region, and education.