FMI Statement on September CPI Food Price Numbers

Arlington, VA – Today, FMI – The Food Industry Association commented on the latest Consumer Price Index (CPI) numbers from the Bureau of Labor Statistics, which shows a 0.3% monthly increase in food-at-home prices for September and a 2.7% rise year-over-year, which is unchanged from August. FMI Vice President of Tax, Trade, Sustainability and Policy Development Andy Harig offered the following statement.

“Food inflation moderated somewhat in September from the significant increase we saw in August, but it remains stubbornly higher than ideal. We recognize any increases are frustrating for shoppers as we approach the holiday season. The September increases in grocery prices are largely due to a 0.7% rise for cereals and bakery products and nonalcoholic beverages. The good news is that eggs continued their decline by 4.7% while fruits and vegetables remained flat for the month.

“Despite ongoing challenges, consumers say they feel in control of their food spending. A recent FMI grocery shopper survey found that nearly eight-in-ten consumers still retain that feeling of control over grocery expenses, while their sense of control over spending on gasoline and housing is notably lower. As an industry committed feeding families, grocers and their product suppliers take great pride in offering shoppers a variety of options as well as sales; loyalty programs; meal planning ideas; promotions; and private brand products to help them get the most out of their grocery dollar.”