Key points from report:
- Due to months of rising costs for consumer goods companies, cost is being passed to the retailer and to the consumer. Inflation from food-at-home reached 10% in March.
- Demand is expected to shift from premium products to more cost-conscious items.
- Trucking spot rates are 22.5% above the pre-pandemic 5-year average.
- The US economy has had two consecutive quarters of negative GDP growth.
- The first quarter showed -1.6% growth, and the second quarter is estimated to be -0.9%.
Find the full report here.