The October Consumer Price Index numbers for food-at-home show that prices increased just 0.1% for the month and fell to 1.1% year over year. Heading into the holiday season, some prices have moderated.
Andy Harig, vice president for FMI, the Food Industry Association, said, the “CPI numbers illustrate once again that — while the process of bringing down overall inflation continues to be a work in progress — food price inflation remains on a solid path.” In addition, turkey prices are down 11% from last year, ham prices are expected to drop 2.5% and apples, fresh cranberries and frozen pies are all expected to be more affordable.
“With Thanksgiving around the corner, the good news for consumers is that many traditional items will cost less than last year,” according to Harig. The overall CPI edged up a slight 0.2% on a seasonally adjusted basis in October, the same rate as the each of the previous three months.
