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Editor's Note: Below is a brief excerpt from a complimentary research note written by our Consumables analysts Howard Penney and Daniel Biolsi. We are pleased to announce our new Sector Pro Product Consumables Pro. Click HERE to learn more. |
The food index increased 0.7% in November sequentially and 6.1% YOY. In November, the food at home index increased 0.8%, driven by increases in all six major grocery store categories.
The food at home index was 6.4% higher YOY. The indexes for fruits and vegetables increased 1% from October and 4.0% YOY. Meats, poultry, fish, and eggs increased 0.9% in November and 12.8% YOY.
The index for dairy had the smallest increase of 1.6% over the past year, while alcoholic beverages were up 1.9% YOY. The index for coffee accelerated from 4.7% YOY in October to 7.5% in November.
The food away from home index increased 5.8%, the largest 12-month increase since 1982.
Our macro team calls for the CPI to decelerate, which could be led by energy in the near term. Food inflation looks to remain elevated, with food manufacturers planning further price hikes.
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Click HERE to listen to hear to Consumables analyst Daniel Biolsi discuss the topic further. |
