Food-at-Home CPI Moderates in November

The rate of food retail price inflation moderated again in November, according to the U.S. Bureau of Labor Statistics’ Consumer Price Index report.

The CPI’s index for food-at-home, a proxy for supermarket price inflation, was up by 3.6% over November of last year—but its lowest rate of increase since March’s 1.1% gain before effects of the global pandemic arrived in April. That event helped to bring seven months of year-over-year inflation of 4% or more, helping food retailers realize gains beyond the effects of compromised or shut-down rivals in the food-away-from home space.

By category, the index was mixed on sequential basis.

The index for nonalcohol beverages fell 0.9% in November, its largest monthly decline since December 2010. The index for other food at home fell 0.6% in November, and the index for cereals and bakery products decreased 0.5%;  both indexes increased in October.

The dairy and related products index rose 0.3% in November after falling in September and October. The index for meats, poultry, fish, and eggs increased 0.1% in November. The index for fruits and vegetables was unchanged in November after rising 0.1% in October.