The Real Cost Of Inflation For Most Americans

The June inflation figure of 9.1 percent, up half a percentage point from last month and the highest since 1981, doesn’t tell half the story of how expensive life has become for Americans. The overall figure hides the fact that not all prices have risen uniformly and that products that have become especially expensive also happen to be the ones people usually can’t do without, such as food, fuel, and energy, according to the Consumer Price Index (CPI) data published by the Bureau of Labor Statistics (BLS).

Among foodstuffs, margarine and eggs prices hiked the most over the 12 months ending June, up over 34 and 33 percent respectively. Trailing behind were butter (up over 21 percent), flour (up over 19 percent), and chicken (more than 18 percent). Milk and coffee were up about 16 percent.

Regular gasoline hiked more than 60 percent, diesel about 76 percent, and fuel oil, which many Americans use to heat their homes, nearly doubled in price. Natural gas went up over 38 percent and electricity nearly 14 percent.- READ MORE