The Consumer Price Index (CPI) for beer away from home increased to +5.2% year-over-year (YoY) and +1% versus July, according to the U.S. Bureau of Labor Statistics.
The YoY increase was also +0.7 percentage points higher than the YoY percentage increase recorded in July. The CPI for beer at home increased +4.2% YoY and +0.2% month-over-month (MoM) before seasonal adjustment.
However, as previously reported, Brewers Association chief economist Bart Watson has noted that beer’s July CPI was “only 0.5% higher” than December 2022, before seasonal adjustment, and trends might “really come down in the coming months.”
Beer increases continue to outpace the CPI for all items, which increased +0.6% YoY when seasonally adjusted, after a +0.2% YoY increase in July. In the last 12 months, the CPI for all items increased +3.7% before seasonal adjustment.
Beer also outpaced the overall beverage-alcohol category, which increased +3.7% YoY and +0.1% MoM. However, the CPI increase for total bev-alc away from home (+6% YoY and flat MoM) was higher than beer away from home. Bev-alc at home increased +2.4% YoY and +0.2% MoM.
Once again, both spirits and wine recorded larger YoY increases away from home, before seasonal adjustment:
- Spirits +7.8% YoY (flat MoM);
- Wine +7.8% YoY (flat MoM).
At home, the CPI for spirits increased +2% YoY (-0.1% MoM). For wine at home, the CPI increased +1% YoY (+0.2% MoM).