Deflation!

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So as you and your mothers know, "Inflation" in commodities has been the name of the game for most markets in 2024 and that has generally continued this month with the Datum FS Foodservice Commodity Index 14 (think Ernie Banks) percent above prior year. As the table below shows, numerous foodservice important markets are well above 2023 especially proteins. And this might be a gift that keeps on giving for most of next year, like the Jelly of the Month Club. Youngins Click Here.

So wait, what about "Deflation" you ask? The average U.S. gasoline price recently fell to its lowest level since the Baylor Bears won their only men's NCAA basketball championship in the spring of 2021. This is good news for the restaurant industry. The share of total retail sales to gasoline stores has a tendency to track inversely to the share of retail sales to foodservice. Makes sense right? Consumers spending less on gas gives them more money to spend at their favorite restaurant. So the next stats shouldn't be a surprise. The share of retail sales to gasoline stores in November was the smallest for any non-Covid impacted month in over two decades while the share to foodservice was near a record high!