These numbers get lost in the broader inflation rate for all goods and services, which measured 2.7 for the same 12-month period. Across the economy, rising food prices were offset by falling prices for things bought at the mall: computers, cameras, clothing and shoes.
The inflation of necessities, including food, energy, and housing, is much higher than the official overall inflation rate of 2.7 percent. And people can't eat computer hard drives and camera straps.
Figures don't lie, but liars figure. In this case, the U.S. government has a vested interest in keeping COLA wage and benefits increases, which are linked to official inflation rates, low, irrespective of whether the prices of necessary goods are increasing at a faster rate.
Energy is down for me this year vs last. Housing is identical. Food is up but a relatively small portion of my bill. I’m sure in some areas of the country it’s bad in ‘hot’ housing market areas but I dont think inflation in middle America has been bad at all.
I was just at Roche Brothers in Burlington, MA. Peruvian Mineolas and large South African Navel Oranges were both $1.99/lb.
where’s beer and wine on that chart?