September CPI: Which food items saw the biggest price increases and decreases
Economist Steve Moore looks at the economic situation in the United States in The Bottom Line.
American consumers continue to struggle inflation despite the slow pace of price growth, rising grocery prices continue to strain the household budget.
On Thursday the Labor Department released September’s consumer price index (CPI) – a broad measure of how much everyday goods such as fuel, groceries and rent cost – showing that prices rose 2.4% from a year ago and 0.2% compared to August.
Food prices it was up 0.4% last month compared to August and up 2.3% from last September, just shy of inflation. Spending on meals away from home rose 3.9% from a year earlier after rising 0.4% in September, while prices for meals at home rose 1.3% from a year earlier.
Prices for meat, poultry, fish and eggs rose 0.8% in September and are up 3.9% from a year ago, the largest annual increase for the major food categories tracked in the CPI.
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Food prices increased by 0.4% in September compared to the previous month and increased by 2.3% compared to a year ago. (Photo by Spencer Platt/Getty Images/Getty Images)
Eggs saw the largest monthly and annual price increase, with prices up 8.4% from August to September and up 39.6% compared to last year.
Inflationary pressures driven by general cost pressures and consumer demand for eggs have been exacerbated by bird flu outbreaks that have caused egg producers to split or, in some cases, release flocks, which has squeezed egg supply.
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Inflation remains above the Fed’s 2% target, straining consumer budgets. (Amy Beth Bennett/South Florida Sun Sentinel/Tribune News Service via Getty Images / Getty Images)
Beef and veal prices are up 4.2% from last year, while other types of meat have seen smaller 12-month price increases, including pork (+1.5%) and poultry (+0.5%).
The prices of fruits and vegetables it was up 0.9% in September from the previous month and up 0.7% from a year ago. Juices and non-carbonated frozen drinks were up 15.3% in September compared to last year.
Dairy products increased by 0.5% compared to last year and were little changed compared to last month. Milk rose 0.8% in September compared to a year ago despite a monthly price drop of 0.3%.
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Coffee prices fell by 1% in September compared to last year. (Photo by Robert Nickelsberg/Getty Images / Getty Images)
There are some grocery items that have dropped in price or are much lower compared to last year.
Prices of cereal and bakery products were little changed from last year, rising by 0.3% monthly.
Coffee prices they were down 1% in September compared to last year although they were up 1.7% monthly compared to August.
Apple prices fell 11.3% in September on the year despite rising 2.4% compared to the previous month.
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Potato prices decreased by 3.5% from last year as they increased by 1.8% every month.
Ham prices are down 2.5% from last year, while fish and marine animals prices fell by 1.3%.
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