BELOW SUPERNAV drop zone ⇩

Inflation: What’s costing you more (and less)?

MAIN AREA TOP drop zone ⇩

MAIN AREA TOP drop zone ⇩

ovp test

mLife Diagnostics LLC: Oral Fluid Drug Testing

Male shot by female at Shreveport apartment

Class to create biodiverse backyard

Rules for outbursts at Caddo School Board Meeting

Mortgage Calculator

This calculator helps you estimate your monthly mortgage payment. It adds up the loan payment (principal + interest), property tax, and insurance. The loan payment is spread out over the years of your loan term.

This is the total amount you're borrowing from the bank.
This is the yearly interest rate on your loan.
This is how long you'll take to repay the loan.
This is the yearly tax you pay on your property.
This is the yearly cost to insure your home.

Monthly Payment Breakdown

Principal and Interest: $

Property Tax: $

Homeowners Insurance: $

Total Estimated Monthly Payment: $

AUTO TEST CUSTOM HTML 20241114185800

AUTO TEST CUSTOM HTML 20241115200405

(NewsNation) — Prices soared 9.1% in June as American consumers continue to face rising grocery bills and surging fuel costs. The latest consumer price hike announced Wednesday is the largest 12-month increase since 1981.

“This is much worse than anyone expected and there will have to be some aggressive action from the Federal Reserve to rein this in,” said NewsNation contributor Lydia Moynihan.

As bad as they are, the numbers are sure to leave many wondering: How can prices be up only 9.1%?

It’s because the core measure of inflation, the Consumer Price Index (CPI), represents the average change in prices across a variety of goods and services.

In some categories, such as fuel and groceries, prices have risen more than 9.1%. In others, like some electronics, prices are actually lower than at this time last year.

How do we know this? Each month, hundreds of government price checkers visit stores in 75 urban areas across the country and record the costs of specific items.

Those prices are collected from about 6,000 housing units and approximately 22,000 retail establishments, including department stores, supermarkets, hospitals and filling stations, among others.

So which prices are up the most? Here’s a breakdown:

grocery prices

Prices at the grocery store are up 12.2%, and depending on what you usually buy, your weekly bill may be even higher. Categories such as milk (up 16.4%) and eggs (up 33.1%) have risen faster than most food items.

One bit of good news: healthy food such as fresh fruits (up 7.3%) and vegetables (up 6.5%) have risen at slower rates than the average.

energy prices

Americans have likely noticed the biggest price hikes at the gas pump, where the cost of regular fuel has risen 61.1% in the last year. In some ways, it’s the most important indicator because the cost of fuel impacts the price of nearly everything you see at the store.

“Fuel costs are too high, diesel is too high. Everything that you buy gets to you in a truck,” said Melissa Armo, founder of The Stock Swoosh LLC.

other Goods and services

For the millions of Americans traveling this summer, the cost of lodging (up 11.5%) and airfare (34.1%) have soared well above the average for all goods and services.

Other industries that have been impacted by post-pandemic supply chain disruptions, like new cars (up 12.5%) and household furniture (up 15.4%), have seen prices rise faster than most.

where prices are down

If you’re in the market for a new TV or smartphone, then you’re in luck, as prices have actually fallen in those categories, decreasing 12.7% and 20%, respectively. The same goes for sporting event tickets, which are down 6.1% from last year.

Your Money

Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed

Site Settings Survey

 

MAIN AREA MIDDLE drop zone ⇩

Trending on NewsNation

MAIN AREA BOTTOM drop zone ⇩

tt

KC Chiefs parade shooting: 1 dead, 21 shot including 9 kids | Morning in America

Witness of Chiefs parade shooting describes suspect | Banfield

Kansas City Chiefs parade shooting: Mom of 2 dead, over 20 shot | Banfield

WWE star Ashley Massaro 'threatened' by board to keep quiet about alleged rape: Friend | Banfield

Friend of WWE star: Ashley Massaro 'spent hours' sobbing after alleged rape | Banfield

Clear

la

50°F Clear Feels like 48°
Wind
5 mph NE
Humidity
46%
Sunrise
Sunset

Tonight

A clear sky. Low 49F. Winds light and variable.
49°F A clear sky. Low 49F. Winds light and variable.
Wind
4 mph ENE
Precip
10%
Sunset
Moon Phase
Waning Gibbous