Fall will soon be upon us, and with its colder temperatures, soup season will arrive in the United States!
Unfortunately, because of President Biden's inflation, soup has become substantially more expensive. At our last update two months ago, online retailing giant Amazon (NASDAQ: AMZN) was the last notable U.S. grocery-selling retailer holding its regular price of a single Number 1-size can of Campbell's Condensed Tomato Soup below $1.00 per can. That low price is now history, because the online giant has joined the pack of other grocers in significantly increasing its regular price well above the $1.00 per can threshold.
While its price hike is the largest we've seen in the last two months, Amazon wasn't alone in hiking its price for an iconic can of Campbell's condensed tomato soup. Here's what we found when sampling prices at 10 major grocery-selling retailers over the Labor Day Holiday weekend.
- Walmart: $1.26/each, unchanged
- Amazon: $1.79/each, increase of $0.80 (+80.8%)
- Kroger: $1.25/each, unchanged
- Walgreens: $1.50/each, unchanged when you buy 2 cans
- Target: $1.29/each, unchanged
- CVS: $2.29/each, unchanged (Highest)
- Albertsons: $1.69/each, unchanged
- Food Lion: $1.25/each, unchanged
- H-E-B: $1.30/each, increase of $0.09 (+7.4%)
- Meijer: $1.29/each, increase of $0.10 (+8.4%)
We should note it is still possible to buy Campbell's Condensed Tomato Soup at $1.00 per can at Meijer. If you do, you'll need to buy at least 7 cans in a single transaction to get it discounted to that now low price.
Underscoring the escalating price of soup, the trailing twelve month average price for a 10.75-oz can of Campbell's Condensed Tomato Soup has risen above $1.15 per can in September 2022. The following chart tracks the price of Campbell's second most popular soup (after Chicken Noodle) in the 21st Century:
Previously on Political Calculations
If you want to explore the price history of an iconic can of Campbell's condensed tomato soup further than the start of the 21st Century, we've compiled it going all the way back to January 1898! We most recently updated our entire history in January 2022:
This article provides links to our older coverage, but if you want to catch up with our newer analysis, follow this link!
Labels: inflation, personal finance, soup
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