FMI Statement on April CPI Food Price Numbers

Arlington, VA - Today, FMI – The Food Industry Association commented on the April Consumer Price Index (CPI) numbers from the U.S. Bureau of Labor Statistics (BLS), which shows a 0.7% increase in food-at-home prices for April and a 2.9% increase over the last 12 months. FMI Vice President of Tax, Trade, Sustainability and Policy Development Andy Harig offered the following statement.

“The CPI numbers released today show a significant jump in food-at-home inflation. This was expected given global events, but nonetheless poses new challenges for shoppers. Staples like beef, poultry, fish and eggs rose 1.3%, fruits and vegetables increased 1.7%, and dairy products are up 0.8%. 

“Food production is energy-intensive, from the field to the shelf to the table. Recent instability and uncertainty in global energy markets are contributing to rising production costs across the food supply chain. Today’s numbers reflect the reality that these dynamics are putting substantial cost pressures on the supply chain and therefore grocery prices. 

“These numbers are understandably frustrating for American families and grocers alike. 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. We remain committed to working across the supply chain to manage cost pressures and ensure consumers continue to have access to a safe, affordable and abundant food supply.”