Inflation is always hot, little surprise for consumers feeling the bite in everyday purchases.
The consumer price index jumped 2.8% compared to the previous year in February, and the increase from month to month was 0.2% – the two cooling measures from January.
However, categories such as food, medical care and used cars remain raised.
Here is what the latest IPC report means for your household:
The price growth of the grocery store was stable in February after a jum of 0.5% in January. But even with this slowdown, large food groups still experience price increases.
The big (old) story: eggs, which are up 59% compared to a year ago.
A dozen big year eggs A, on average, cost $ 5.90 in February, compared to $ 4.95 in January and much higher than the average of $ 2.99 a year ago.
Other breakfast staples such as coffee and bacon are also increased from year to year.
Meat, especially beef, has increased: chopped beef increased by 2.7% and beef roasts increased by 2.8%. According to the Fed of St. Louis, a chopped beef book is now on average $ 5.96 against $ 5.48 in February 2024.
Certain food categories have experienced slower prices: fruits and vegetables have dropped by 0.5% and dairy products slowed down 1% compared to January.
The cost of catering increased by 0.4% compared to January and was 3.7% higher than a year ago.
Medical services increased by 0.3% compared to January and 3% higher than a year ago. This category includes hospital costs, which are 3.6% higher than a year in February, and nursing home care, which increased by 4.1%. Home Healthcare was 5.6% higher than a year ago, according to the BLS.
Health insurance increased by 3.9% compared to February 2024 and increased by 0.3% per month. The increase in prescription drugs was flat from one month to the next but was 4.6% higher than a year ago.
Price growth for used cars had slowed down since last year, but in January, in January, it increased by 2.2% and scored another voucher of 0.9% last month. The price growth of the new vehicle was stable – a category to keep an eye on the prices on foreign cars which should soon appear in the prices of the stickers.
Automobile insurance, which has skyrocketed for two years, has only increased by 0.3% of months in months but is almost 11% higher than a year ago.
Three consecutive years of subscription losses mean that insurers have paid more in complaints and expenses than through the premiums we pay – leading to steep hikes today.
There were better news at the fuel pump.
The fuel index slowed down 0.1% in February, relief of two consecutive months of high increase. As of March 12, the national petrol average was $ 3.08 per gallon, according to AAA data. It is down compared to an average of $ 3.15 in January and $ 3.39 a year ago.
Inflation remains greater than the objective of the federal reserve of 2%. Combined with the overall economic uncertainty concerning prices, the Fed should hold stable interest rates at its political meeting later this month.