Prices are still rising.
In January, overall inflation was up 6.4% year over year, according to Consumer Price Index statistics released Feb. 14 by the U.S. Bureau of Labor Statistics. That’s down just barely from the 12-month increase we saw in December: 6.5%.
Prices were also up 0.5% in January compared with December, when prices had risen just 0.1% compared with November.
For many Americans, the pain of higher costs is most evident when we purchase food each week, but groceries are hardly the only type of expense that hit a new record in January.
Following are some everyday expenses that just hit new highs in terms of their annual rates of inflation.
Frozen vegetables
Latest 12-month price increase: 18.6%
The cost of your peas and carrots and other frozen vegetables has reached a record high.
If you are worried about the rising cost of vegetables, perhaps it’s time to plant a garden. You’ll find tips for budding green thumbs in “How to Start a Vegetable Garden in 8 Steps.”
Juices and nonalcoholic drinks
Latest 12-month price increase: 13.3%
The cost of staying hydrated also has hit a new record, just in time for when the weather warms and we get parched more often.
Wondering if now is the time to go the DIY route? Find out in “Is SodaStream Cost-Effective? We Did the Math for You.”
Food at employee sites and schools
Latest 12-month price increase: 130.3%
In addition to teaching the ABCs, schools everywhere are offering a tough lesson in the high cost of inflation. At both schools and workplaces, prices for on-site food have skyrocketed.
Owners’ equivalent rent of primary residence
Latest 12-month price increase: 7.8%
The cost of owned homes themselves isn’t part of the Consumer Price Index because the Bureau of Labor Statistics considers owned homes to be capital goods — that is, investments.
Instead, the index includes what it calls “owners’ equivalent rent of primary residence,” which refers to the costs that homeowners would have to pay if they were renting their homes, minus furnishings and utilities — mortgage principal payments, for example.
Allow us to translate: The cost of remaining in your digs is getting pricier.
Motor vehicle repair
Latest 12-month price increase: 23.1%
Just as the price of some used cars has started to come down, the cost of maintaining those vehicles has shot higher.
If your auto shop has gotten too pricey, perhaps it’s time to look elsewhere. For tips on finding the right auto care, check out “11 Keys to Finding a Car Mechanic You Can Trust.”
Pet services
Latest 12-month price increase: 8.4%
Who doesn’t like to pamper their pooch or coddle their cat? The price of keeping your pets happy — outside of veterinary expenses — is climbing, however.
For more on trimming this bill, read “4 Ways to Save on Pet Expenses in Hard Times.”