You may notice that the rate of price increases for many items you buy on a weekly basis has slowed recently.
The New York metropolitan area, which includes 12 counties in New Jersey, saw consumer price increases of 0.2% in November, according to data issued by the U.
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S. Bureau of Labor Statistics on Tuesday.
This followed a 0.1% increase in October.
Overall, costs are increased by around 6% as of November 2021.
Bruce Bergman, a regional economist for the BLS, notes that the unemployment rate in the area is “quite low” at 5.9% compared to cities like Boston and Dallas.
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When looking at the entire country, the index is up 7.1% from a year ago.
Bergen, Essex, Hudson, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, and Union are all part of the New York City, Newark, and Jersey City metropolitan areas that BLS looks at.
The most recent numbers show that in the month of November, food costs in the area rose by 0.8% over the previous month. The cost of groceries has increased by approximately 9 percent in the last 12 months.
According to BLS, the cost of many commonly consumed goods, including lettuce, frozen foods, and cheese, increased during the month of November.
According to the figures, the cost of electricity has risen by 3.2% in the past month. The price of gasoline increased by 6.
6%, and the cost of heating a home increased by 1%.
The CPI decreased by 0.1 percentage points when all goods and services were considered, excluding food and energy.
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Some significant categories saw price drops in November 2022, including clothing and new and used automobiles.
