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.
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| | 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% |
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Source: Bureau of Labor Statistics. Price change from April 2003 to April 2004. |
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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.
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