In the latest report from the U.S. Bureau of Labor Statistics, the Consumer Price Index for All Urban Consumers (CPI-U) reveals a four-tenths of a percent increase in prices in the West for February. This rise is largely driven by higher costs in housing and gasoline.
Grocery Bills went up Up:
-Food prices climbed by just over 2 percent during the same period, impacting household budgets, particularly in the cost of home meals, with higher prices for cereal and bakery products.
Energy Pressures:
– The energy sector felt the impact, with prices advancing by 2/3s percent in February. This surge is mainly attributed to increased electricity costs and a significant 1.6 percent rise in gas prices.
– Over the year, the core index for items unrelated to food or energy rose by 3.6 percent. While medical care and shelter costs made notable contributions, these were somewhat balanced by decreases in apparel and new and used vehicle prices.
The pinch on your pocketbook continues.
