Inflation

Buying Less For More: Inflation's Impact on What You Can Buy for $20 at the Grocery Store

According to the U.S. Bureau of Labor Statistics’ Consumer Price Index report, the cost of making food at home has risen more than 13% in the previous year, the largest 12-month increase since 1979

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A sign of hope for consumers; the U.S. Bureau of Labor Statistics’ most recent Consumer Price Index for the month of July was released Wednesday morning. An analysis by Jeff Cox with CNBC said the latest report showed lower-than-expected numbers that mean inflation may be easing up, but despite this, the impact of costly goods is still being felt.

According to the CPI, the cost of making food at home has risen more than 13% in the previous year, the largest 12-month increase since 1979. In July, the price for fruits and vegetables rose 0.5%, after rising 0.7% in June. Also in July, meats, poultry, fish and eggs also saw an increase by 0.5%, after declining in June. The biggest jump seen last month was the price of nonalcoholic drinks, which rose 2.3% overall.

NBC 7's Amber Frias spoke to a University of San Diego economist about what we can expect at the grocery store in the near term.

These numbers could mean that inflation is "coming off its peak and price gains may slow in the coming months," according to an analysis by Patti Domm with CNBC.

Receipt and items from the grocery store.
Dana Williams
Receipt showing less than $20 spent on items to make dinner for two people, including turkey patties, vegetables, sweet potatoes and a drink. Aug. 8, 2022
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