Bidenflation Watch: Campbell’s Tomato Soup Prices Keep Escalating
Via Political Calculations blog,
More grocery stores have increased their prices to consumers for an iconic No. 1 size can of Campbell’s Condensed Tomato Soup. Here’s how prices have changed since our previous snapshot of prices at ten of the U.S.’s largest grocery-selling retailers roughly two months ago.
Walmart: $1.17/each, unchanged
Amazon: $0.99/each, unchanged (Lowest)
Kroger: $1.25/each, unchanged
Walgreens: $1.50/each, unchanged when you buy 2 cans
Target: $1.29/each, increase of $0.10 (+8.4%)
CVS: $2.19/each, increase of $0.40 (+22.3%, Highest)
Albertsons: $1.59/each, increase of $0.59 (+59.0%)
Food Lion: $1.19/each, increase of $0.19 (+19.0%)
H-E-B: $1.21/each, unchanged
Meijer: $1.19/each, increase of $0.19 (+19.0%)
Among these sellers, only Amazon continues to sell a can of Campbell’s condensed tomato soup for under $1.00. The next lowest price available to consumers is Walmart’s $1.17 per can.
Since Amazon sells many fewer cans of tomato soup than all these other grocery-selling retailers, that means most tomato soup-buying American households are now typically paying far more than $1.00 for each can of Campbell’s tomato soup they buy. So much so that the trailing twelve month average of a can of Campbell’s Condensed Tomato Soup has jumped to reach a new record high of $1.04 per can. The following chart presents the entire price history of a No. 1-size can of Campbell’s Condensed Tomato Soup we’ve assembled to mark the occasion:
President Biden’s Inflation
Unlike many other products, the iconic No. 1 can of Campbell’s Condensed Tomato Soup cannot easily hide the effects of inflation by shrinking while keeping the same price. Its trailing twelve month average price now exceeds $1.00 per can, as discounted sale prices below that level have nearly all but disappeared following large price hikes in January and February 2022.
We anticipate the trailing twelve month average for Campbell’s Tomato Soup will reach nearly $1.20 per can by the end of 2022. How long do you suppose Amazon might continue selling the product at what is now a deeply discounted sale price of $0.99?
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For the latest in our coverage of Campbell’s Tomato Soup prices, follow this link!
Tue, 05/24/2022 – 17:25