Yes, your breakfast bacon is more expensive. A lot more expensive than a year ago. So are eggs, baby food and baby clothes, cars, televisions and appliances.
The government said Wednesday its consumer price index soared 6.2% from a year ago — the biggest 12-month jump since 1990. But the average American doesn't need to be an economist to know what they've already seen at the grocery store or car lot — just about everything is noticeably more expensive.
And although pay is up sharply for many workers, it isn't nearly enough to keep up with prices. Last month, average hourly wages in the United States, after accounting for inflation, actually fell 1.2% compared with October 2020.
A closer breakdown of the CPI finds that some of the items that have increased in price the most include used cars, car rentals and hotels. One reason used cars are outpacing new cars is likely because of a global shortage of semiconductors — computer chips needed to manufacture vehicles.
But of more immediate concern to many American families is the rise in energy costs, particularly things like propane and natural gas that are needed to heat millions of homes with winter approaching.
Where people are likely seeing the pain on a daily basis is at the grocery store. Protein sources, in particular, are being hit the hardest. Near the top is a breakfast table favorite — bacon.
Here is a list of specific items where Americans are seeing the most inflation over the past 12 months, and even some items where prices have gone down.
Food at home
- Steak: 24.2
- Bacon: 20.2%
- Pork chops: 15.9%
- Eggs: 11.6%
- Fresh fish and seafood: 11%
- Chicken: 8.8%
- Baby food: 7.9%
- Peanut Butter: 6%
- Roasted coffee: 5.6%
- Sugar and sugar substitutes: 5.2%
- Milk: 4.3%
- Cereal: 3.1%
- Fruits and vegetables: 3%
- Bread: 2.3%
- Infant & toddler apparel: 7.6%
- Men's and boys' apparel: 6.3%
- Women's and girls' apparel: 2.1%
- Footwear: 5.2%
- Used vehicles: 26.4%
- New vehicles: 9.8%
- Tires: 9.2%
- Motor oil, coolant and fluids: 11.3%
- Car and truck rental: 39.1%
- Lodging such as hotels and motels: 25.5%
- Airline fares: -4.6%
- Fuel oil: 59.1%
- Gasoline: 49.6%
- Propane, kerosene and firewood: 34.7%
- Utility (piped) gas: 28.1%
- Electricity: 6.5%
- Televisions: 10.4%
- Other video equipment: -1.3%
- Audio equipment: -7.3%
- Recorded music and music subscriptions: -1.6%
- Smartphones: -20.7%
- Bedroom furniture: 11.8%
- Living room, kitchen and dining room furniture: 13.1%
- Laundry appliances: 14.9%
- Other appliances: 6.9%
The Associated Press contributed to this report.