FMI – The Food Industry Association said the latest inflation data from the U.S. Bureau of Labor Statistics points to renewed pressure on grocery prices, as rising energy costs and global market instability continue to weigh on the food supply chain.
According to the April Consumer Price Index report, food-at-home prices increased 0.7% in April and were up 2.9% over the past 12 months. FMI Vice President of Tax, Trade, Sustainability and Policy Development Andy Harig said the increase was anticipated given ongoing global economic conditions but acknowledged that the higher prices present challenges for consumers.
“The CPI numbers released today show a significant jump in food-at-home inflation,” Harig said in a statement. “This was expected given global events, but nonetheless poses new challenges for shoppers.”
Among the categories seeing the sharpest monthly increases were staples such as beef, poultry, fish and eggs, which rose 1.3%. Fruits and vegetables increased 1.7%, while dairy products climbed 0.8%, according to FMI’s summary of the government data.
Harig said rising energy-related costs are contributing to higher prices throughout the food production and distribution process.
“Food production is energy-intensive, from the field to the shelf to the table,” he said. “Recent instability and uncertainty in global energy markets are contributing to rising production costs across the food supply chain.”
The comments come as food retailers and suppliers continue to navigate persistent inflationary pressures and heightened consumer sensitivity around grocery spending. Industry groups and retailers have increasingly emphasized value-focused promotions, private brands and operational efficiencies as consumers seek ways to stretch household budgets.
Harig said the industry remains focused on mitigating the impact of higher costs where possible.
“These numbers are understandably frustrating for American families and grocers alike,” he said. “The food industry is doing everything we can to keep prices in check and support shoppers amid continued market uncertainties as they seek to get the most value out of their grocery dollar.”
He added that the industry remains committed to maintaining “a safe, affordable and abundant food supply” despite ongoing market volatility.
Based in Arlington, Va., FMI – The Food Industry Association represents companies across the food supply chain, including retailers, producers and service providers.
Submit Your Press Release
Have news to share? Send us your press releases and announcements.
Send Press Release
