Arlington, VA - Today, FMI - The Food Industry Association Vice President, Tax, Trade, Sustainability and Policy Development Andy Harig issued the following statement on the September 2023 Consumer Price Index (CPI) numbers that reveal food price inflation rates continue to moderate.
“The September CPI report demonstrates that food-at-home inflation continues to stabilize and provide shoppers with a more consistent and predictable shopping experience. The monthly inflation number for food at home declined to 0.1 percent and – particularly heartening – cereals and bakery products dropped for the first time since the summer of 2021. This continued leveling off – and for certain commodities lower inflation levels – provides reason for consumers to be optimistic.”
“There is still work to be done and the food industry continues to engage to make sure that Americans have the safest, healthiest, and most affordable food supply possible. As inflation eases and the economic landscape continues to evolve, retailers remain committed to using every available tool to help keep food costs low for consumers.”