Inflation for beer continued to outpace trends for total bev-alc in October, but lessened versus September, according to the U.S. Bureau of Labor Statistics (BLS) in its Consumer Price Index (CPI) report.
The CPI for beer at home increased +2.6% year-over-year (YoY), before seasonal adjustment, the same increase as overall inflation for all items. The increase is on top of a +4.7% YoY increase recorded in October 2023, which had marked “reemerged” inflation for the category after a seven-month slowdown. Brewers Association chief economist and VP of strategy Bart Watson said at the time.
Month-over-month (MoM), the CPI for beer at home increased +0.1%, but that difference changes to -0.4% when seasonally adjusted.
Total bev-alc increased +1.6% YoY and +0.4% MoM, before seasonal adjustment. At home, bev-alc increased +1.1% YoY and declined -0.2% MoM, before adjustment. When adjusted, the industry recorded a -0.3% MoM decline.
The CPI for spirits at home was nearly flat YoY (+0.1%) and declined -0.4% MoM, before and after seasonal adjustment. The CPI for wine at home increased +0.3% YoY and declined -0.3% MoM.
Away from home, bev-alc increased +2.3% YoY. MoM, bev-alc away from home increased +1.2%, both before and after adjustment.
Beer away from home once again outpaced the total industry, increasing +3.6% YoY, before seasonal adjustment. MoM, the CPI for beer increased +2.1%, both before and after adjustment.
Spirits away from home increased +2.1% YoY and +1.2% MoM. Wine increased +1.5% YoY and +0.4% MoM.