The FIE Input Cost Index (FIE-ICI) eased to 137 this week, down two points from 139. Anything above 115 counts as High Pressure, so input costs remain well above their baseline.
Freight did most of the work. U.S. diesel fell for a second straight week, to $6.13 a gallon, and ocean container rates dipped 2%. Corn dropped to its lowest price since July, and boxed beef posted a fifth straight weekly decline.
Diesel still costs $2.29 more than a year ago, and the labor deadline at the Los Angeles and Long Beach ports now falls on November 20. The two ports handle an estimated 25% of U.S. beef exports.
See the full breakdown on this week’s Commodity Basket, Input Inflation, and Freight scores, plus the one item we’re watching most closely.
