ARLINGTON, Va. – FMI – The Food Industry Association Vice President, Tax, Trade, Sustainability and Policy Development Andy Harig issued the following statement on the May 2023 Consumer Price Index (CPI) numbers that reveal another month of moderating food price inflation. “The May CPI report reveals grocery prices continue to level off, with food price inflation
WASHINGTON – Consumers continued to spend in March despite price hikes driven by a four-decade high in inflation, according to economic data released today. March retail sales were up 0.5%, the Commerce Department reported. It was the third consecutive month in which retail sales increased in the face of rising prices, notably an 8.9% spike
The Bureau of Labor Statistics reported earlier this month that the Consumer Price Index, which measures a basket of goods and services, indicated an inflation rate of 7.9% for the 12-month period that ended in February. That’s a number not seen since January 1982, indicating that inflation is higher than it’s been in 40 years.
WASHINGTON – Retail sales rose a seasonally adjusted 0.3% in March from the previous month and were up 3.5% unadjusted from a year earlier, the National Retail Federation (NRF) reported on Friday. The federation’s numbers exclude automobiles, gasoline stations and restaurants. “Consumer spending was weak but is expected to pick up as we move through