You’re not imagining things: Nearly everything costs more than it did last month
That Thanksgiving meal is going to cost you more than it did last year, along with the price of heating your home and paying for medical care.
The U.S. Bureau of Labor Statistics released its monthly consumer price index report Wednesday. It shows that, over the last 12 months, the cost of all items measured is up 6.2 percent. It’s the biggest increase since December 1990.
Prices went up on energy, shelter, food, used cars and trucks and new vehicles. Gas prices rose 6.1 percent from September to October.
Overall food prices are up 5.3 percent in the last 12 months. It’s the same for food at home and food eaten away from home. Grocery store prices rose 1.2 percent, which is the largest increase since April 2020. In April 2020, COVID-related closures were just underway and supply chain issues were starting to be a concern.
Over the last year, the cost of meat, poultry, fish and eggs has gone up 11.9 percent. Beef prices have gone up 20.1 percent. Pork prices are up 14.1 percent. That’s the largest 12-month increase since the period ending in December 1999.
The Farm Bureau reported last month that this Thanksgiving could be one of the most expensive in many years, citing that rise in food prices. The bureau also suggested some Thanksgiving staples will be harder to find.
Butterball told Good Morning America that finding smaller turkeys, like ones between 10 and 14 pounds, will be tougher this year.
In non-food-related consumer news, medical care prices rose 0.5 percent in October, which was the largest monthly increase since May 2020.
The only measured price that actually declined in October were airline fares and alcoholic beverages, down 0.7 percent and 0.2 percent respectively.
The apparel index and the motor vehicle insurance index were flat in October from the month before.
COPYRIGHT 2022 BY KXLY. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.