Grocery Prices Rise Again For NJ Consumers
Personal Finance
Grocery Prices Rise Again For NJ Consumers Inflation has been slowing, but New Jersey residents continue to face rising prices at restaurants and the grocery store, new data shows.NEW JERSEY — The cost of buying groceries and dining out increased again this summer in New Jersey and around the region, according to the latest statistics.
The Bureau of Labor Statistics tracks inflation both by major metropolitan area, and by region, with its monthly Consumer Price Index (CPI). New Jersey is in the Northeast region and Middle Atlantic division for these reports, while New England makes up the rest of the Northeast region.
The latest data, which is current through August, does show that Garden State consumers had a bit of a break in the past two months when buying non-alcoholic beverages like coffee, tea, and soda. But in much of the state, prices for these drinks are still higher than they were a year ago. And the cost of meat, fish, eggs, and dairy products has continued to rise.
Throughout the Northeast, overall prices increased 0.2 percent over the past month, and have risen 3.4 percent compared to a year ago. That includes costs for housing, fuel and utilities, transportation, and medical care as well as for food and beverages.
The food index was up 0.1 percent in August, and has increased 2.2 percent from August 2023 — with the cost of eating out going up 4.2 percent year-over-year.
Much of the Garden State is included in reports for the Philadelphia-Camden-Wilmington area, where food prices rose 0.9 percent in July and August and have gone up 3.6 percent since last year, according to the CPI.
Over the year, the cost of going out to eat in New Jersey increased 4.7 percent, and prices for buying food to cook at home were up 2.9 percent. The steepest increase was for meats, poultry, fish, and eggs, where customers saw prices go up by 1.9 percent in July and August, and by 6.8 percent compared to last year.
Prices for cereals and bakery products increased by about 3 percent over the past two months (up 2.5 percent year-over-year), and dairy products have seen a similar trend — increasing 2.6 percent in July and August, and up 3.1 percent since last year.
The cost of fruits and vegetables also increased by 2 percent through the height of this summer, though customers are paying 0.7 percent less than they did last year, the data shows.
For the New York City metro area , the latest Consumer Price Index shows prices are up 0.3 percent over the past month, and have risen 3.7 percent since last August — with food prices up 1.9 percent year-over-year, including a 3.2 percent increase for buying meals away from home.
However, the price of food has gone down 0.3 percent since June in this area of the state, the analysis found — with the cost of non-alcoholic beverages declining 4.3 percent since the beginning of the summer. Cereals and bakery products are slightly cheaper, as well: Prices went down 0.8 percent in June and July.
But, North Jersey residents continue to face rising prices for meats, poultry, fish, and eggs (costs went up 2.4 percent this summer, and these items are 3.6 percent more expensive than at this time last year). The cost of dairy products has been stable over the past few months, and is up 2.3 percent since last summer.
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