Average Price of Cinco de Mayo Groceries Rises by Just 1% YoY
Those celebrating Cinco de Mayo this year will be relieved to learn that the cost of groceries for everyone’s favorite Mexican holiday has only risen by 1% from 2023 – 2024. This, according to new data from ecommerce accelerator, Pattern.
Why it matters: With the Bureau of Labor Statistics (BLS) reporting a 3.5% increase in pricing for consumers across all major categories year over year, the low rate of inflation for Cinco de Mayo products comes as a welcome surprise just in time for celebrations to kick off.
What we’re seeing: Overall, customers can expect a reprieve from inflation while shopping for Cinco de Mayo groceries, with the following products showing the sharpest decrease in pricing from 2023 – 2024:
- Pinto Beans decreased in price by 25% from Q1 2023 – Q1 2024
- Black Beans -12%
- Lime -7%
- Mexican Blend Cheese -3%
- Tajin -3%
- Tomatoes -1%
Yes, but: Several items are still suffering from major price increases, so customers will need to watch out for these products while shopping. Cinco de Mayo groceries that saw the biggest increase in price year over year include:
- Tortilla Chips increased in price by 18% from Q1 2023 – Q1 2024
- Hot Sauce +10%
- Beer +7%
- Corn +6%
- Sour Cream +4%
- Margarita Mix +4%
- Tortillas +3%
The takeaway: Cinco de Mayo celebrants will enjoy a stress-free holiday as the cost of groceries has avoided the full sting of inflation this year. With the average basket of Cinco de Mayo groceries only costing 1% more since Q1 2023, shoppers can approach checkout with greater confidence as they plan their parties for 2024.
Pattern’s data science team analyzed pricing data on Amazon during every day of the last four years to understand trends in the cost of Cinco de Mayo groceries. If you’d like to spice up your ecommerce strategy with insights like these, reach out to our team to get more information today.
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