On Thursday, the Bureau of Labor Statistics released the September 2022 Consumer Price Index Report, which showed that the index and the price of food items continued to climb throughout the last month.
Which foods got more expensive? Overall, the price of food at home (groceries) increased by 0.7% from August to September.
- The cost of fruits and vegetables increased by 1.6%.
- Cereal and bakery products rose 0.9%.
- Meats, poultry, fish and eggs increased by 0.4%.
- Dairy products increased by 0.3%.
- Nonalcoholic beverage prices rose by 0.6%.
What’s causing the price surge? CNN states that producers have reported paying more for labor and packaging materials, which is just one factor influencing the rise of food prices.
- Extreme weather, such as flooding and droughts, has been hurting crops and causing delays in the transportation process.
- Even diseases such as the avian flu have been spreading througout birds and have been affecting the production of poultry and eggs.
- Supply chain issues in general have also contributed to the issues.
What else got more expensive? Overall, the index rose 0.4% in August, causing price increases for far more than groceries.
- The price of food away from home, such as food from restaurants, rose by 0.9%.
- Piped utility gas service increased by 2.9%.
- Vehicle maintenance and repair costs rose by 1.9%, and vehicle insurance climbed by 1.6%.
- Rent increased in September by 0.8%.
- Electricity increased by 0.4%.
- The price of hospital visits increased by 0.1%, and doctor’s services increased by 0.5%.
- Airline fares climbed 0.8%, and the price of a new vehicle climbed by 0.7%.
Did anything get cheaper? Despite inflation continuing to drain the pockets of Americans, there were some items that did not increase nor decrease in price or got cheaper in September.
- The cost of alcoholic beverages did not increase or decrease in September.
- Medical commodities, such as equipment and drug prices, decreased by 0.1%.
- Apparel decreased by 0.3%.
- Used cars and trucks decreased by 1.1%.
- Fuel oil fell by 2.7%.
- Gasoline prices decreased by 4.9%.