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Susan Tompor: Consumer prices up 7.5% in the Midwest over the past year; faster than nation

Susan Tompor, Detroit Free Press on

Published in Business News

Sticker shock in the Midwest continued at a slightly faster pace than the rest of the nation.

The consumer price index jumped by 7.5% in December from a year ago in the Midwest. That was the highest spike for all regions of the country.

By contrast, the CPI soared 7% in December for the country from a year ago — reaching a nearly 40-year high. It was the largest 12-month spike since June 1982.

The South was up 7.4%; the West was up 7.1%, and the Northeast up 5.9%.

No one, of course, needs to see these official numbers if they've hit a drive-thru at a fast food restaurant, shopped for groceries or filled their tank with gas in the past year. Our personal cash-flow has seen its fair share of clogs for months.

It might be good to know, though, that you're not imagining things. It really is costing more to eat and drive. A lot more in many cases.

 

Metro Detroit sees 10% hike in food

Groceries in the Midwest were up 7.4% in the past year, far more than some parts of the country, including the Northeast, where grocery and food prices were up 4.9%, according to Paul LaPorte, economist with the U.S. Bureau of Labor Statistics in the Office of Economic Analysis & Information in Chicago.

Metro Detroit even saw double-digit sticker shock where grocery prices, as measured by the CPI, were up 10%.

The grocery category includes cereal, meat, milk, fish, poultry, fruit, vegetables and other food at home.

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