Electricity prices skyrocket in New Jersey.Food costs soar

NEW JERSEY — Are you a New Jersey resident and have you thought twice when it came time to pay your electricity bill this month? As the latest federal data shows, you’re not alone.

On Thursday, the US Bureau of Labor Statistics released the consumer price index for all city consumers in the New York, Newark and Jersey City areas. (see chart below).

Data show that electricity prices have risen significantly by 28.2% since December. This is his largest one-month increase in the history of the series, which began in 1971. From January 2021.

Meanwhile, natural gas prices rose 16.7% from last year, but have remained flat since December.

Overall energy prices rose 28.5% over the year, mainly driven by a 39.6% rise in gasoline prices, the department said.

Grocery prices have risen 7.5% since last year. As the prices of meat, poultry, fish and eggs rose by 16% for him, the cost of eating at home jumped by 7.6% for him. But restaurant meals were also more expensive, with prices for meals away from home rising by 7.4%.

Other highlights from Thursday’s report include:

  • “From January 2021 to January 2022, the index for all items except food and energy increased by 3.3%.”
  • “The 18.4% increase in new and used car prices included a 41.6% increase in used car and truck prices.”
  • “Shelter prices rose 1.5%, owner equivalent rents rose 1.8%, and housing rents rose 0.6%.”

How is the CPI calculated? According to the agency:

“CPI is based on the prices of food, clothing, housing, fuel, transportation, doctor and dentist services, medicines, and other goods and services that people buy for their daily lives. is collected from approximately 6,000 homes and approximately 22,000 retail establishments (department stores, supermarkets, hospitals, gas stations, and other types of shops and service establishments) in 75 urban areas nationwide. All directly related tax items are included in the index.”

New York-Newark-Jersey City, New York-New Jersey-Pennsylvania Core-based statistical areas include New York’s Bronx, Dutchess, Kings, Nassau, New York, Orange, Putnam, Queens, Richmond, Rockland, Suffolk, and Westchester Counties. It is included. Bergen, Essex, Hudson, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, and Union counties in New Jersey. Pike County, Pennsylvania.

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