Arlington, VA – Today, FMI - The Food Industry Association Vice President, Tax, Trade, Sustainability and Policy Development Andy Harig issued the following statement on the October 2022 Consumer Price Index (CPI) numbers reflecting continued food price inflation:
“The October CPI further illuminates the challenge that Americans have faced for months. The cost of consumer goods continues to rise, adding pressure on budgets across the country. Grocery stores – and the entire food industry – are doing all they can to ensure Americans have options to stay within their grocery budget and remain committed to working with their customers to help mitigate the impacts of inflation. Today’s numbers make it clear that this is still a difficult time for consumers. While myriad factors influence food prices, the food industry is collaborating throughout the entire supply chain to keep costs low for consumers.
“Regardless of the larger economic situation, the food industry is committed to a high level of customer service for shoppers throughout this holiday season and beyond and will continue to do all it can to meet the needs of shoppers despite input costs due to labor, production disruptions, transportation demand, weather challenges and global conflict impacting every aspect of the food business.”
Please reference fact sheets, infographics and recorded digital seminars on the topic at www.FMI.org/FoodInflation