The prices of many products that you can buy weekly continue to increase, but the constant increase seems to be at least slowing down.
According to figures released Tuesday by the US Bureau of Labor Statistics, consumer prices in the New York metropolitan area, which includes 12 boroughs of New Jersey, rose 0.2% in November after rising 0.1% in October were.
Compared to November 2021, prices have increased by almost 6% overall.
“That 5.9% is actually relatively low compared to some other metro areas like Boston or Dallas,” said Bruce Bergman, BLS regional economist.
Nationally, the composite index is up 7.1% year-on-year.
The New York-Newark-Jersey City area surveyed by BLS includes Bergen, Essex, Hudson, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex and Union counties.
According to the latest data, food prices in the region rose 0.8% month-on-month in November. Compared to last year, food prices have increased by almost 9%.
Lettuce, frozen foods and cheese are among the items with higher November prices, according to the BLS.
According to the data, energy prices increased by 3.2% in one month in the region. Gasoline prices increased by 6.6% and household energy prices by 1%.
Looking at all items outside of food and energy, the CPI is down a tenth of a percentage point. November 2022 saw lower prices for some essential items such as apparel and new and used motor vehicles.
Dino Flammia is a reporter for New Jersey 101.5. You can reach him at [email protected]
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