Inflation hits new 41-year high, food prices rise again in February

Relentless.

That's the word that describes the pace of inflation hammering consumers across metro Detroit and the rest of the nation.

Inflation rose to 7.9% for the last 12 months — the highest year-over-year increase since April 1981, according to the monthly U.S. Consumer Price Index, released Thursday. The costs of goods and services, including groceries at home and dining out, continue to climb.

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The report, released by the Bureau of Labor Statistics, found that gas prices were a big contributor to the increase. But food at home, or the price for groceries, got more expensive and rose 1.4% in February and is up nearly 9% for the year, according to the CPI.

February's rise in groceries was the largest monthly increase since April 2020, according to the report. The cost for groceries in all six categories tracked rose more than 1% in February and are up nearly 8% for the year. The costs for fruits and vegetables had the largest month-over-month increase, rising more than 2%, the highest increase since March 2010, the report said.

Anyone who's bought a pound of bacon, a gallon of milk or a pound of butter knows grocery prices are taking a big bite out of wallets.

Meat, poultry, fish, and eggs lead the increase, rising 13% in the last 12 months. For the last 12 months, beef is up 16.2%, bacon nearly 19% and chicken increased 13%. Eggs are up 11.4% for the 12 months and up more than 2% from January.

In a separate food category, the cost for food away from home, which includes eating out, increased. While February's increase was less than a half percent, overall costs are up nearly 7% year-over-year.

Americans paid more in February for groceries across all categories tracked by the labor department. In the last 12 months, several categories had double-digit increases. Here's a sampling of food price increases across or from February's CPI report.

The CPI reflects changes in prices for certain goods and services by consumers. Spending patterns cover all urban consumers and urban wage earners and clerical workers in urban or metropolitan areas.

Contact Detroit Free Press food writer Susan Selasky and send food and restaurant news to: sselasky@freepress.com. Follow @SusanMariecooks on Twitter.

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This article originally appeared on Detroit Free Press: Food prices soar as inflation hits new 41-year high