Fall marks the return of soup season in the United States, as cooling temperatures put hot dishes like Campbell's Tomato Soup back on Americans' home menu.
This year's fall is remarkable because the trailing twelve month average sale price of an iconic Number 1 size can of Campbell's Condensed Tomato Soup declined by a small amount. Thanks to discounted sale prices at several grocery-selling retailers in recent months, American consumers are seeing lower prices than they did a year ago.
This outcome suggests the Campbell's Company's (NYSE: CPB) CFO Carrie Anderson's efforts to rein its costs to minimize the impact of new tariffs are seeing some success. In its most recent quarterly report, the company indicated its "adjusted gross profit margin decreased 90 basis points to 30.5% mainly driven by cost inflation and other supply chain costs inclusive of a moderate tariff impact, partially offset by supply chain productivity improvements, favorable net price realization and the benefits from cost savings initiatives". The cost savings initiatives have allowed Campbell's to minimize changes to the prices consumers see.
Here are the results for our October 2025 survey of prices for Campbell's Tomato Soup and ten major grocery stores and grocery-selling retailers, along with how these prices have changed since our July 2025 snapshot:
- Walmart: $1.24/each, decrease of $0.02 (-1.6%)
- Amazon: $0.97/each, decrease of $0.29 (-23.0%)
- Kroger: $1.00/each, decrease of $0.50 (-33.3%)
- Walgreens: $1.99/each, unchanged
- Target: $1.39/each, unchanged
- CVS: $2.49/each, unchanged
- Albertsons: $1.49/each, decrease of $0.20 (-11.8%)
- Food Lion: $1.25/each, unchanged
- H-E-B: $1.24/each, decrease of $0.07 (-5.3%)
- Meijer: $1.29/each, unchanged
The biggest discounts are at Amazon and Kroger. Meanwhile, Walmart has lowered its regular price for Campbell's Tomato Soup to $1.24 per can, while H-E-B appears to have matched Walmart's price with its latest discounted sale price.
Here's our chart tracking the price per can of Campbell's condensed tomato soup from January 2000 through October 2025.
And to think, when Campbell's Tomato Soup first rolled out to U.S. grocery store shelves in 1898, a single can cost $0.10. In 2000, a single can cost $0.34 on average. Flash forward to today's price and these figures rather put the inflation of the 21st century into perspective.
Video credit: Campbell's Tomato Soup Old Time Radio Advertisement posted by JedwardsMedia.
Labels: soup
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