The Consumer Price Index (CPI) for beer both at home (+6.1%) and away from home (+5%) outpaced overall inflation (+4%) once again in May 2023 compared to May 2022, before seasonal adjustment, according to the U.S. Bureau of Labor Statistics (BLS).
The +4% CPI increase for all items was the smallest 12-month increase since the period ending March 2021, according to the BLS.
The CPI for all items rose +0.3% in May versus the month before, after a +0.4% increase in April. Comparatively, the CPI for beer increased +0.4% at home and +0.7% away from home.
Seasonally adjusted, the CPI for all items increased +0.1% month-over-month (MoM), while beer at home increased +0.5% and beer away from home increased +0.7%
The CPI for total alcoholic beverages increased +4.8% year-over-year (YoY) and +0.5% MoM, before seasonal adjustment. Alcoholic beverages at home increased +3.9% YoY and +0.3% MoM, while away from home increased +6.3% YoY and +0.7% MoM.
Both wine and spirits recorded smaller increases than beer at-home, but larger increases away from home.
Spirits at home increased +1.6% YoY and +0.2% MoM, while spirits away from home increased +7.1% YoY and +0.6% MoM. Seasonally adjusted, spirits at home increased +0.2% MoM after a -0.1% decline in April, while spirits away from home increased +0.6% MoM after a +2.3% increase in April.
Wine at home increased +2.9% YoY and +0.4% MoM, while wine away from home increased +6.3% YoY and +0.8% MoM. Seasonally adjusted, wine at home increased +0.4% MoM after a +0.2% increase in April, while wine away from home increased +0.8% MoM after a +0.5% increase in April.
The full CPI report is available here.