The cost of food rose in January by 0.4%, with eggs seeing the biggest price hike they’ve seen in nearly 10 years, according to new data released by the Consumer Price Index.Each month, the U.S. Bureau of Labor and Statistics releases a report that measures the change in prices paid by consumers for goods and services called the Consumer Price Index. Inflation accelerated in January, rising 3% on an annual basis, for the first time since June 2024. Inflation also worsened month over month, with prices jumping 0.5% in January from December, the largest increase since August 2023. The Hearst Television Data Team analyzed the new data and found that most food items saw increases.The price of a dozen eggs saw the biggest spike in January as it rose 15% to $4.95.This was the largest increase the eggs index has seen since June 2015, and accounted for about two-thirds of the total monthly increase for food at home. A bird flu outbreak is fueling that price increase. Other food items that also rose in January were frozen noncarbonated juices and drinks, instant coffee, bacon and margarine.The president of the Maine State Chamber of Commerce, Patrick Woodcock, said rising food costs can be attributed to a variety of factors, including a tight labor market and the rising cost of housing and electricity.”We’ve seen significant increases in the prices of electricity that ultimately contributes to all products. People pass those costs on from everything from restaurant bills to stores,” Woodcock said.Woodcock said the Chamber of Commerce is also looking at tariffs, as he is concerned Maine could see an increase in the prices of other consumer goods.”We’re really watching closely proposed tariffs and how that could impact consumer goods,” he said. “Maine in particular is very exposed to Canadian imports, seafood, our forestry products, energy, so I think we’re really cautious and concerned about inflation.”Not all food items saw increases in the data, however, as bread was 1% less expensive and the price of tomatoes declined 2%.Check your grocery item in our inflation table to see how much prices went up or down.CjxzY3JpcHQgdHlwZT0idGV4dC9qYXZhc2NyaXB0Ij4hZnVuY3Rpb24oKXsidXNlIHN0cmljdCI7d2luZG93LmFkZEV2ZW50TGlzdGVuZXIoIm1lc3NhZ2UiLChmdW5jdGlvbihlKXtpZih2b2lkIDAhPT1lLmRhdGFbImRhdGF3cmFwcGVyLWhlaWdodCJdKXt2YXIgdD1kb2N1bWVudC5xdWVyeVNlbGVjdG9yQWxsKCJpZnJhbWUiKTtmb3IodmFyIGEgaW4gZS5kYXRhWyJkYXRhd3JhcHBlci1oZWlnaHQiXSlmb3IodmFyIHI9MDtyPHQubGVuZ3RoO3IrKyl7aWYodFtyXS5jb250ZW50V2luZG93PT09ZS5zb3VyY2UpdFtyXS5zdHlsZS5oZWlnaHQ9ZS5kYXRhWyJkYXRhd3JhcHBlci1oZWlnaHQiXVthXSsicHgifX19KSl9KCk7PC9zY3JpcHQ+
The cost of food rose in January by 0.4%, with eggs seeing the biggest price hike they’ve seen in nearly 10 years, according to new data released by the Consumer Price Index.
Each month, the U.S. Bureau of Labor and Statistics releases a report that measures the change in prices paid by consumers for goods and services called the Consumer Price Index. Inflation accelerated in January, rising 3% on an annual basis, for the first time since June 2024. Inflation also worsened month over month, with prices jumping 0.5% in January from December, the largest increase since August 2023.
Advertisement
The Hearst Television Data Team analyzed the new data and found that most food items saw increases.
The price of a dozen eggs saw the biggest spike in January as it rose 15% to $4.95.
This was the largest increase the eggs index has seen since June 2015, and accounted for about two-thirds of the total monthly increase for food at home. A bird flu outbreak is fueling that price increase.
Other food items that also rose in January were frozen noncarbonated juices and drinks, instant coffee, bacon and margarine.
The president of the Maine State Chamber of Commerce, Patrick Woodcock, said rising food costs can be attributed to a variety of factors, including a tight labor market and the rising cost of housing and electricity.
“We’ve seen significant increases in the prices of electricity that ultimately contributes to all products. People pass those costs on from everything from restaurant bills to stores,” Woodcock said.
Woodcock said the Chamber of Commerce is also looking at tariffs, as he is concerned Maine could see an increase in the prices of other consumer goods.
“We’re really watching closely proposed tariffs and how that could impact consumer goods,” he said. “Maine in particular is very exposed to Canadian imports, seafood, our forestry products, energy, so I think we’re really cautious and concerned about inflation.”
Not all food items saw increases in the data, however, as bread was 1% less expensive and the price of tomatoes declined 2%.
Check your grocery item in our inflation table to see how much prices went up or down.
发表回复