RALEIGH, N.C. (WNCN) – It has become increasingly difficult to buy anything or go anywhere. New data from the labor department shows inflation reached a 40-year high of 9.1 percent over the last year.
Wednesday’s Consumer Price Index shows huge increases for the costs of products. Butter and margarine prices are up 26 percent. The cost for cereal went up 2 percent and flour went up another 5 percent.
However, there were a few items that are slightly down. The only major grocery group to see a decline in prices in June was the meats, poultry, fish and eggs group. As a group, they saw prices slightly dip 0.4 percent in the last month.
A closer look shows prices for meats went down 1.3 percent in the month and pork was down 1.6 percent. However, ham and poultry were up by 1.1 percent and 1.5 percent, respectively.
The slight decline in some areas doesn’t help shoppers much when the cost for groceries overall have gone up by at least 1 percent every month for the last six months.
Those looking for a getaway may also find a slight relief. Lodging away from home fell 2.8 percent in June. This came after a string of increases over the past few months. Costs for hotel and motel stays were among the largest dips. Those prices went down 3.3 percent in June.
The cost to book a flight was down almost 2 percent in June. That won’t offset the dramatic increases in airfare passengers have seen over the past few months. Travelers paid 19 percent more for airfare in April before seeing another price bump of 13 percent in May.
Looking at consumer prices over the last year, few products saw a decline in prices.
There were two significant prices drops – the cost to buy a television declined by 13 percent in the last year and prices for smartphones were down 20 percent.