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Personal Finance
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Food and gas prices are busting budgets
April CPI data shows only modest overall price increases, but that steak dinner costs a lot more.
May 14, 2004: 3:02 PM EDT

NEW YORK (CNN/Money) - Runaway inflation has still not raised its ugly head in the United States, according to the latest consumer price index released by the Bureau of Labor Statistics on Friday. But the prices of some guilty pleasures have risen considerably.

A sizzling steak slathered in butter, with sides of fries and broccoli costs a lot more now than a year ago. The beef itself is up 17.7 percent from last April and butter has fattened to $3.35 a pound, a whopping 31.4 percent increase. Small consolation that the price of potatoes has been flat and broccoli has actually dropped (big deal) 10.3 percent in price.

Overall, prices grew a modest 0.2 percent from March to April, an annual rate of about two and a half percent.

Pace Setters
A sampling of goods and services that lead the price-increase charge
Product Annual Price Change 
Butter 31.4% 
Steak 17.7% 
Ground Beef 11.3% 
Bacon 6.5% 
Apples 6.3% 
Hospital Services 6.4% 
Hotel Rooms 8.8% 
Water and Trash Services 5.3% 
College Tuition 7.4% 
Gasoline 11.0% 
 Source:  Bureau of Labor Statistics. Price change from April 2003 to April 2004.

Of the other prices of commodities and services that have outpaced that rate of inflation over the past year, gasoline stands out; a gallon of unleaded regular hit $1.83 in April, up 11 percent from one year ago. With petroleum reaching $41 a barrel in May, that situation will only worsen as we head into the summer travel season.

Medical care (up 4.7% since April 2003), food (3.4%), and housing (2.3%) were the other categories that rose most substantially.

Helping keep prices keep cool were apparel (up just 0.3 % in the past year), recreation (1.5%), and transportation (1.6%).

In the food category, meats grew most in price, up 8.5 percent over the past 12 months; a pound of ground chuck now costs an average of $2.49, up 11.3 percent. Dairy products, up 4.9 percent, rose more modestly, while fruits and vegetables (they're good for you!) went up 3.2 percent.  Top of page




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.