A good time to buy lettuce…and pork
Rising gasoline and grain costs continue to dent consumer’s wallets at the pump and the grocery store, but if you’re in the market for some lettuce and pork, you’re in luck.
Turns out the price of lettuce is down 3.2 percent from last year. And pork is down 4.4 percent. That’s according to the latest Consumer Price Index numbers from the federal Bureau of Labor Statistics.
Over the weekend, The New York Times published an interesting graphical representation of inflation on consumer items. It’s an effective way to look at what items make up the broader Consumer Price Index and just how much each is weighted for its share of the typical consumer’s budget.
No prizes for guessing which category claims the one of the largest percentage increases, though. Predictably, it’s gasoline, which is up 26 percent from 2007 prices. Gasoline accounts for roughly 5 percent of consumer spending, according to the BLS.
In the food category, the largest increases were in eggs–up almost 30 percent. Other dietary staples like milk, cheese and bread rose between 12 percent and 14 percent.
There is some good news, though. If you’re looking for something to blow the federal government’s $600 rebate check on, take a look at the TV category in the chart. The cost of TVs is down more than 18 percent from last year.
–Paul
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