Dec 11, 2024
Tackling Inflation Continues to Be an Uneven Process

Arlington, VA - Today, FMI - The Food Industry Association Vice President, Tax, Trade, Sustainability and Policy Development Andy Harig issued the following statement on the November 2024 Consumer Price Index (CPI).

“Today's CPI numbers show that inflation is a stubborn thing, and the U.S. still has some work to do to fully tame it. Food-at-home remains well below the Fed's overall 2% target, coming in at 1.6% on a year-over-year basis. But the slight tick upward to 0.5% in the monthly figure bears watching. Increases in the price of eggs (8.2%) - driven by avian influenza - and the price of beef (3.1%) - driven by high input costs - both point to challenges the food and agriculture supply chain are working to address. But November's numbers continue to demonstrate that, for consumers looking for affordability, eating at home is still the best bet. 

“As we approach the December holidays, consumers tell us they continue to feel confident in managing their grocery budgets. In fact, 85% of grocery shoppers report that they have at least some control over their grocery expenses.

“To support shoppers as they plan their holiday meals, the food industry is committed to providing value to customers through discounts and sales, private brand and local product offerings as well as the deployment of new technologies to enhance the shopping experience.”