Posted on 02/23/2024 4:25:00 PM PST by 11th_VA
TRENTON, NJ – Inflation is being reigned in and food prices are coming down. That’s what we’re told each time the Biden administration talks about food prices here in New Jersey, but if you’ve been food shopping in the past few weeks in New Jersey, you know this is not true.
Over the past few weeks, the prices of eggs, meat, milk, and other essentials skyrocketed once again and there doesn’t seem to be an end in sight.
In New Jersey, as part of the larger Northeast and New York-Newark-Jersey City areas, there has indeed been a noticeable increase in grocery prices in early 2024. According to the U.S. Bureau of Labor Statistics, the Consumer Price Index (CPI) for the Northeast region saw a 0.6% increase in January 2024, with a 2.5% rise over the past year.
This increase is attributed to a rise in various sectors, including a significant 0.8% rise in the food index within just a month. Specifically, the prices for fruits and vegetables rose by 1.5%, and meats, poultry, fish, and eggs saw a 1.3% increase, marking the largest increase since May 2022. Additionally, nonalcoholic beverages and beverage materials experienced a 1.6% price hike, led by higher prices for carbonated drinks.
According to the USBL CPI, the food index increased 0.4 percent in January, as the food at home index increased 0.4 percent and the food away from home index rose 0.5 percent over the month…
(Excerpt) Read more at shorenewsnetwork.com ...
bttt...
An economic leading indicator...shipped in items are about to become very scarce.
Food prices are launched everywhere. No re-entry foreseen...
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