Inflation rates in the United States have been subtly decreasing in recent months. However, daily market prices continue to surprise consumers.
Many people struggle to make ends meet at the end of the month as their salaries are insufficient to cover their bills and provide proper meals.
According to the Consumer Price Index from the Bureau of Labor Statistics, food prices increased by 0.1% from April to May. Menu prices, on the other hand, rose by 0.5% in the same period.
The report shows that food prices in May were 5.8% higher than a year ago, while menu prices increased by 8.3% within the last year. Overall, costs have risen by 6.7% over the year, surpassing the general annual inflation rate of 4% once again.
Products with increased prices
Several products experienced significant price increases in the past year. For instance, margarine rose by 22.5%, flour by 17.1%, bread by 12.5%, and sugar by 11.1%. Non-alcoholic beverages, such as juices, saw a 9.9% increase, while lettuce increased by 9.4%, ham by 8.2%, and ice cream by 8%.
Other products, such as cheese (3.6%), chicken (0.9%), and fresh fruits and vegetables (0.6%), have also experienced price hikes, although to a lesser extent. Uncooked roast beef prices remained steady over the past 12 months.
However, some products have seen a slight decrease in prices within the evaluated period, including bacon (-9.8%), citrus fruits (-5.3%), fresh whole milk (-3.4%), pork chops (-2.2%), and fish and shellfish (-1.1%).
In April and May, the price of eggs dropped after a surge at the beginning of 2023. Last month, the cost of eggs decreased by 13.8%, marking the largest monthly drop in costs since January 1951.