Arlington, VA - Today, FMI - The Food Industry Association Vice President, Tax, Trade, Sustainability and Policy Development Andy Harig issued the following statement on the April 2023 Consumer Price Index (CPI) numbers that reveal a slight easing of food price inflation.
“The April CPI report shows promising progress for shoppers, as inflation – and subsequently grocery prices – continue its steady, albeit slow, decline. Following recent price declines in the volatile commodities of meat, poultry, eggs and fish, we are seeing that while prices for food at home fall slowly, we are still headed in the right direction.”
“FMI is working alongside retailers to communicate consumer needs as we continue to battle inflationary food prices. For example, FMI’s most recent survey found that in order to minimize the effects of higher food prices, consumers are looking for deals across multiple channels – diversifying their grocery purchases between supermarkets, mass retailers, club stores and online. As inflation eases and the economic landscape continues to evolve, retailers will continue to use every available tool to help keep food costs low for consumers.”