May 5, 2025 (press release) –
Circana’s comprehensive weekly updates on the U.S. consumer packaged goods sector monitor the impact of macroeconomic factors, including tariffs, on volume, price, and supply, providing valuable insights to support critical business decisions.
Please find our latest CPG Consumer Spend Tracker with data ending April 20, 2025, here.
Highlights from this week’s edition:
Spending within retail food & beverage shows improvement in April, driven by a strong Easter week. Year-to-date 2025 shows healthy volume growth (0.6% vs. YA), but still some softening versus CY 2024 (0.8% vs. ‘23).
Price growth decelerated in April as key commodities such as beef, cocoa, nuts, and eggs show improvement. To date, 2025 inflation remains higher than 2024 due to non-tariff factors.
With many tariffs now in effect since April 5, we anticipate that select products, particularly some perimeter items and those imported from China, will begin to see an impact soon. Though any widespread impact may take time. So far, there is no observable tariff impact on shelf prices.
In non-food CPG, we continue to focus our report on core CPG sectors, removing miscellaneous general merchandise, baby care, and pet care (pet food is still included) due to their greater presence in channels outside the MULO+ & Convenience universe.
Year to date, core non-food CPG unit sales are up 0.4%, which is a softer performance than CY 2024 (0.9% vs. ’23). Unit trends worsened in the last month, but there has been some improvement in late April. The greatest unit declines are concentrated in more discretionary areas (e.g., kitchen, beauty, and home).
Non-food price growth shows no visible impact from tariffs to date.
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