The Consumer Price Index (CPI) for beer both at home (+5.9%) and away from home (+5.1%) outpaced overall inflation (+4.9%) in April 2023 compared to April 2022 for another consecutive month, according to the U.S. Bureau of Labor Statistics (BLS).
Inflation is continuing to slow, as the overall CPI has declined -1.1% compared to March 2023, when it was +6% higher than March 2022.
“The all items index increased 4.9% for the 12 months ending April; this was the smallest 12-month increase since the period ending April 2021,” the BLS wrote in its monthly report.
The CPI for total beverage-alcohol lagged behind overall inflation at +4.6% year-over-year (YoY), driven up by overall bev-alc away from home, which increased +6.5% YoY. Alcohol at home increased +3.6% YoY.
Both wine and spirits had much larger differences in the CPI for consumption at home versus away from home compared to the beer category. The CPI for wine away from home increased +7% compared to April 2022, the largest jump of any bev-alc category. Spirits away from home weren’t far behind, with a +6.7% increase in CPI YoY.
For at home consumption, wine’s CPI increased +2.5% and spirits’ CPI increased +1.5%, the two lowest YoY comps in bev-alc.
The CPI for spirits at home declined month-over-month (MoM), dropping -0.1% compared to March 2022. Beer at home was flat relative to March 2022. All other segments recorded increases in CPI MoM, led by spirits away from home (+2.3%).
The average price per case for total beer at off-premise retailers (multi-outlet grocery and convenience stores) increased $1.43, to $29.77, for the four-week period ending April 23, compared to the same period last year, according to market research firm Circana. At grocery stores, the average increase was $1.04, outpaced by convenience stores at $1.81.
The non-alcoholic beer segment took the most price in the L4W through April 23, increasing +$3.09 per case, to $34.74, at multi-outlet grocery and convenience stores, according to Circana. NA beer was followed by the assorted segment (+$2.89 per case, to $46.42), cider (+$2.28 per case, to $48.23), flavored malt beverages (+$1.82 per case, to $40.14), craft (+$1.69 per case, to $42.41), hard seltzer (+$1.49 per case, to $37.74), imports (+$1.49 per case, to $36.62), domestic premium (+$1.19 per case, to $24.50), domestic sub premium (+$1.10 per case, to $19.19), and domestic super premium (+$0.89 per case, to $30.47).