The price of groceries has risen more in the last year than any other period since 1979, according to a new consumer price index report from the U.S. Bureau of Labor Statistics.
The CPI for all items increased 0.1% in August and 8.3% over the last year, according to the report. The food at home index, which includes grocery items, rose 0.7% during the month and 13.5% over the last year.
If you don’t see the chart below on the percentage change of the CPI for consumers or want to open a larger version, click here.
The food at home increase from August 2021 to August 2022 is the largest since the period ending in March 1979, according to the report.
Within the grocery category, dairy products increased the most over the year at 16.2%, and fruits and vegetables increased the least at 9.4%.
The energy index also increased significantly over the past year at 23.8%. While the overall energy index decrease by 5% in August, that decrease was mainly due to the decline in the price of gasoline, which went down by 10.6% last month. Fuel oil also decreased by 5.9%, but all other energy products, including electricity and utility gas service, increased by 2.1%.
Over the last 12 months, gasoline has increased by 25.6% and fuel oil has increased by a staggering 68.8%.
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