Following the recent release of Consumer Price Index (CPI) data from January, inflation is flashing warning signs as prices soared 7.5% compare to a year ago, and have increased by 0.6% from the previous month.
Telsey Advisory Group says the Food-At-Home CPI accelerated to 7.4%, with Food PPI remaining high in the double digits at 12.1%.
The firm believes the “uptick in food CPI likely reflects high demand for grocery items as consumers continue at-home consumption as well as retailers/producers raising prices to cover high operating costs, including commodity, labor, and supply chain.”
