FMI Statement on June CPI Food Price Numbers

ARLINGTON, VA – FMI Vice President of Tax, Trade, Sustainability, and Policy Development Andy Harig issued the following statement today in response to the latest Consumer Price Index (CPI) report from the U.S. Bureau of Labor Statistics, which shows a 0.3% monthly increase in food-at-home prices for June and a 2.4% rise on a year-over-year basis.

“Food prices remained relatively stable in June, offering some consistency and relief to grocery shoppers and food retailers,” Harig said. “Inflation was driven by all categories, especially animal proteins.”

Harig continued, “As an industry committed to ensuring access to affordable, safe, nutritious food, we are cautiously encouraged by the continued moderation in food-at-home inflation. However, we remain vigilant about broader economic pressures that can impact supply chains, labor costs, and consumer purchasing power.

“Eighty percent of our members told us in a survey published today that they anticipate trade policies and tariffs to continue to impact pricing and disrupt supply chains. Additionally, most of our members expect operating costs to remain elevated.

“We continue to promote supply chain resilience and press for reducing regulatory burdens to help foster both innovation and certainty across the food sector. In partnership with effective trade policies, these efforts are essential to maintaining price stability and confidence among American families.”