Trump says Iran war "close to over" amid hopes for more negotiations
Investing.com -- Food and beverage companies saw cost inflation accelerate in February, according to Bank of America’s latest Trendspotter report.
Spot inflation for companies in BofA’s packaged food and beverages coverage universe increased 40 basis points month-over-month from January to 3.7% year-over-year in February.
The low-single digit spot inflation was driven by higher prices for turkey due to avian flu, vegetables, and milk. Deflationary commodities included eggs, cocoa, and orange juice.
BofA’s estimated T-9 hedged basket was up 3.8% year-over-year in February, which is 2 basis points higher than the prior month.
Commodities that bear watching for 2026 include cocoa, coffee, beef, and aluminum, according to the bank.
BofA noted that February results do not reflect recent increases given the Iran conflict, which the bank expects to put upward pressure on rates next month.
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