The Consumer Price Index (CPI) for beer at-home increased +7.7% in November 2022 compared to a year ago, according to the U.S. Bureau of Labor Statistics (BLS).
Notably, the CPI for beer at-home is now outpacing the CPI for all products, which is up +7.1% in November 2022 compared to a year ago. Beer’s jump comes as overall inflation slowed slightly.
Brewers Association chief economist Bart Watson wrote on Twitter that the beer at-home CPI reached its “highest level since 1991,” when the federal excise tax doubled.
Beer CPI comes in at 7.7% YoY – highest level since 1991 (Federal excise tax doubled). Decent jump in November, though 3-month number similar to most of 2022.
So to sum: signs overall price inflation coming down in headline CPI, but less so in beer. pic.twitter.com/nUUX4PyWmx
— Bart Watson (@BrewersStats) December 13, 2022
November’s increase follows a +6% increase in October 2022 compared to a year ago. The CPI for beer at home increased +1.8% between October 2022 and November 2022.
Year-to-date through December 3, the average equivalent case price for beer is $28.21, an increase of $1.47, in off-premise retailers tracked by NielsenIQ. However, the average case price has increased $2.14 over the latest four-week period ending December 3, the firm reported.
The beer at-home CPI also continues to outpace spirits (+1.7%) and wine (+3%).
Meanwhile, the CPI for beer away from home has increased +6.6% over the last year. From October to November 2022, the price of beer away from home increased 0.1%.
The overall CPI for alcoholic beverages is up +5.5% for the 12-month period ending November 2022 and +0.6% from October to November 2022. The CPI for all alcoholic beverages at home increased +4.5% in that same 12-month period.