Yesterday we reported on a big note from UBS saying that demographics were unfavorable to the soup industry.
Now Citi is out with a pretty bearish note too.
Among the firm’s findings: The food inflation that everyone’s freaking out about seems to have totally passed over this industry.
Here’s a look at 12-week and 52-week pricing changes for various companies in the space.
That’s not to say input costs are not higher, but for the average America, this idea of sticker shock at the grocery store is largely a psychological phenomenon.