Arlington, VA - Today, FMI – The Food Industry Association commented on the September Consumer Price Index (CPI) numbers from the U.S. Bureau of Labor Statistics (BLS), which show a decrease of 0.1% for food-at-home inflation in September and a 1.8% increase over the last 12 months. FMI Vice President, Tax, Trade, Sustainability and Policy Development Andy Harig offered the following statement.
“September’s CPI report should once again be welcome news for grocery shoppers, as food-at-home prices declined slightly for the month of September. In particular, key staples like beef and dairy saw notable declines.
“While consumers continue to see relief in the short term, developments related to diesel prices bear close watching as the fall progresses. Record-high prices tied to the ongoing conflict in Iran are beginning to work their way through the grocery supply chain, which could create price pressures in the months ahead.
“We are also monitoring the developing Super El Niño event, which could disrupt growing conditions, transportation networks and global commodity supplies. Its effects will vary by region and product, but the potential for drought, flooding and shipping delays could place ongoing pressure on global food supply chains.
“Despite these headwinds, food retailers will continue working every day to manage costs, maintain dependable supplies and deliver the quality, choice and value shoppers expect.”
