The Consumer Price Index (CPI) for June reflected higher inflation as the impact of the Trump administration’s tariffs began to take hold.
The CPI for all goods increased 2.7% year-over-year (YoY) before seasonal adjustment, growing 0.3% from May’s CPI of 2.4%, according to data released today by the Bureau of Labor Statistics.
Core inflation, minus food and energy prices, increased 2.9% compared to last year. The New York Times reported that June’s CPI data showed the first signs of Trump’s intensifying trade war.
Overall inflation outpaced the CPI for all alcoholic beverages, which increased 1.4% in June, growing 0.1% month-over-month (MoM).
Alcoholic beverages away from home outpaced overall inflation across the board in June. Total bev-alc away from home increased 3.2% YoY, a 0.4% bump MoM.
Spirits away from home led the way in June, increasing 3.9% compared to the same time last year, and growing 0.7% MoM.
Beer away from home followed, increasing 3.1% YoY, but growing just 0.2% MoM.
Wine away from home posted the largest MoM increase (+0.9%), growing to 2.9% YoY.
The CPI for bev-alc at home fell below overall inflation in June, declining 0.1% YoY and MoM. Spirits at home also led the way among bev-alc categories, increasing 0.7% YoY, but declining 0.2% MoM.
Beer at home increased 0.3% in June, but also declined 0.2% compared to May 2025.
Wine at home declined 0.9% compared to last year, and dropped 0.1% compared to last month.
Year-to-date (YTD) through July 5, total bev-alc dollar sales are down 3%, to $53 billion, according to NIQ data (xAOC+convenience+liquor open state). The declines come as bev-alc sales declined across every channel:
- Convenience -0.8%;
- Liquor open state -3.4%;
- Grocery -3.5%;
- Mass merch, dollar and club stores -6%.
Off-premise dollar sales of beer declined 3.1% for the 26-week period ending July 5, according to NIQ data. Beer volumes at the halfway point of 2025 are down 4.7%, excluding ready-to-drink (RTD) offerings such as flavored malt beverages (FMB) and hard seltzers.
Wine posted the largest declines in off-premise sales of bev-alc’s mega categories, declining 5.9% in dollars and 6.7% in volume through early July.
Spirits, excluding RTDs, were also in the red, declining 2.8% in dollars and 3% in volume through the first half of the year. RTDs recorded dollar sales growth (+1.7%) YTD, but declined 3.2% in volume, per NIQ.