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ARLINGTON, Va. — November’s Consumer Price Index (CPI) showed that inflation continues to challenge the U.S. economy. According to FMI—The Food Industry Association —food-at-home prices increased by 0.5% month over month and 1.6% year over year. While the annual figure remains below the Federal Reserve’s 2% inflation target, a sharp rise in the cost of eggs (up 8.2%) and beef (up 3.1%) signals ongoing pressures in the food supply chain.
Andy Harig, FMI Vice President of Tax, Trade, Sustainability, and Policy Development, attributed these increases to avian influenza affecting egg supplies and high input costs impacting beef production. Despite these challenges, Harig emphasized that home cooking remains the most affordable option for households.
“As we approach the December holidays, consumers tell us they continue to feel confident in managing their grocery budgets,” Harig said, noting that 85% of shoppers report having at least some control over their grocery spending.
To support consumers during the holiday season, the food industry is ramping up efforts to offer discounts, private brand alternatives, and innovative shopping technologies aimed at providing greater value, according to Harig, who underscored the industry's commitment to helping families prepare festive meals without breaking the bank.
The slight monthly uptick in food-at-home inflation bears watching, particularly as global supply chain disruptions and rising production costs continue to create volatility in key categories. Still, the CPI data shows that eating at home remains a cost-effective strategy for U.S. households grappling with stubborn inflation.
