Consumers Face Changing Prices

Here’s the good news…  It’s a good time to buy some curtain rods.  A terrific time to quit smoking cigarettes.  A lovely time to explore your neighborhood instead of going anywhere exotic.  A fine time to join a tennis club and a decent time to buy some new underwear.

Unfortunately, we all need to eat, and those prices are going up, alongside the price of gasoline and medical care.

The Bureau of Labor Statistics reports the changes in the price indexes for common purchases in the United States.  These changes may affect not only your personal budgeting needs, but also your business relationships with different companies.

The food index has risen 1.8 percent with the food at home index up 2.1 percent over the last 12 months; both 12-month changes are the highest since 2009. The index for food away from home has risen 1.5 percent over that same period.

The energy index has increased 7.3 percent over the last 12 months, with the gasoline index up 13.4 percent. The index for natural gas has declined 6.4 percent over that same period.

Over the last 12 months, the index for all items less food and energy increased 1.0 percent. The shelter index has gone up 0.6 percent over that time period with the rent index up 1.0 percent. The index for airline fares has risen 9.8 percent and the indexes for medical care, for used cars and trucks, and for tobacco also increased. The apparel index is unchanged from a year ago, while the indexes for household furnishings and operations and for recreation have declined.