Food costs boosts Tri-State inflation rate
ABJ - July 19 - Prices in the New York-Northern New Jersey-Long Island area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), inched up 0.1 per cent in May, after edging up 0.2 per cent in April, according to the U.S. Bureau of Labor Statistics.
Regional Commissioner Deborah Brown said that increases in prices for food and shelter were mostly offset by a drop in the price of gasoline.
For the May year end, the CPI-U rose 1.8 per cent, reflecting higher prices for shelter and food. May was the first time since January 2011 that the 12-month per cent change in prices for all items fell below two per cent. The index for all items less food and energy increased 2.3 per cent, about the same rate it has been since August 2011.
The food index increased 0.5 per cent, after rising 0.2 per cent in April. Prices for food at home jumped 0.7 per cent, with higher prices recorded for a wide range of groceries including bread, soups, fish, frozen food, carbonated drinks, and ice cream. Prices for food away from home increased 0.2 per cent. Over the year, food costs increased 3.8 per cent. Food at home advanced 4.5 per cent and food away from home increased three per cent.