US Packaged Food Sales Rise 2.5% on Price Hikes as Volumes Stall, BofA Says

U.S. packaged food sales rose 2.5% in the four weeks ending July 25, 2026, a gain driven entirely by price increases as consumer purchase volumes remained flat, according to a Bank of America analysis of Nielsen scanner data. The figures suggest that while companies are successfully passing on higher costs, underlying consumer demand is not expanding.

Price Hikes Drive Sales Growth

The mid-period update from Bank of America showed that the entirety of the sales growth came from a 2.5% increase in price and mix. Sales volumes were flat during the period, indicating that consumers are paying more for the same amount of goods.

The data, which provides an early look at sector performance, covers a wide range of retail channels. This includes all outlets combined, convenience stores, club stores like Costco, pet specialty retailers, and first-party sales from Amazon.

Diverging Fortunes for Food Giants

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While the overall sector saw sequential sales growth, performance varied significantly among individual companies covered by the bank.

• Growth Acceleration: BellRing Brands (NYSE:BRBR) and O-I Glass (NYSE:OI) saw their sales growth accelerate by more than 150 basis points.
• Growth Deceleration: In contrast, The Hershey Company (NYSE:HSY) and Tyson Foods (NYSE:TSN) experienced a sales deceleration of more than 150 basis points during the same four-week period.

For investors, these trends highlight the importance of pricing power in the current environment. The flat volume figure is a key metric to watch, as it could signal a potential ceiling for consumer spending if prices continue to climb or economic conditions change.