Consumer Price Index Archives

Beef prices have soared in the US — and not just during grilling season

OMAHA, Neb. (AP) — Anyone firing up the grill this summer already knows hamburgers and steaks are expensive, but the latest numbers show prices have climbed to record highs. And experts say consumers shouldn’t expect much relief soon either. According to U.S. government data, the average price of a pound of ground beef rose to $6.12 in June, up nearly 12% from a year ago. The average price of all uncooked beef steaks rose 8% to $11.49 per pound. But this is not a recent phenomenon. Beef prices have been steadily rising over the past 20 years because the supply of cattle remains tight while beef remains popular. That’s not likely to change.… Continue Reading

US consumer confidence rebounds after five straight months of declines amid tariff anxiety

WASHINGTON (AP) — Americans’ views of the economy improved in May after five straight months of declines sent consumer confidence to the lowest level since the onset of the COVID-19 pandemic, largely driven by anxiety over the impact of President Donald Trump’s tariffs. The Conference Board said Tuesday that its consumer confidence index rose 12.3 points in May to 98, up from April’s 85.7, its lowest reading since May 2020. A measure of Americans’ short-term expectations for their income, business conditions and the job market jumped 17.4 points to 72.8, but remained below 80, which can signal a recession ahead.… Continue Reading

US eggs prices hit a record high of $4.95 and are likely to keep climbing

OMAHA, Neb. (AP) — Egg prices have reached a record high in the U.S. The consumer price index released on Wednesday confirmed what consumers, bakers and food companies already knew: an ongoing bird flu outbreak that began in 2022 are making eggs terribly expensive right now. The average price of a dozen Grade A eggs in U.S. cities reached $4.95 in January, eclipsing the previous record of $4.82 set in January 2023. Of course, that is only the nationwide average. A carton of eggs can cost $10 or more in some places. And specialized varieties, such as organic and cage-free eggs, are even more expensive.… Continue Reading