INDIANAPOLIS — Consumers paid 7.7% more on all items in October than they did a full year ago.
At home, food prices are up 12.4% compared to the same time last year.
Month-to-month, the October increase is 0.4%. The Bureau of Labor Statistics said that's the smallest monthly increase in this index since December 2021.
Four of the six major grocery store food group indexes increased from September to October. Meats, poultry, fish, and eggs rose 0.6%, while cereals and bakery products increased 0.8% in October.
If a weekly grocery bill was $150 in October 2021, it was likely around $168 weeks ago.
As for gasoline, it's up 17.5% from a year ago, so that $50 tank is closer to $58.75.
Energy services, including electricity and gas, are up 15.6%. If your utilities were a combined $200 a month last year, it looked more like $230 last month.
Bankrate's chief financial analyst Greg McBride said if we're calling (October inflation) an improvement, we're setting in a very low bar.
"We continue to see consistent and large increases in categories that are absolute necessities, shelter, food, and energy, while the categories that showed declines tended to be items that were either irregular expenses or just very discretionary in nature," McBride said.
Saving money and finding resources
If time is money, couponing can earn some pros up to $150 an hour in savings. To start, download store apps as well as cashback apps.
To save money at the pump, consider gas apps that compare prices and offer cash back. If you're loyal to a certain brand, station or wholesale memberships could make sense.
As for utilities, both AES and Duke Energy say they offer home reports that breakdown a home's usage. If you need help paying for a winter utility, consider applying for LIHEAP or United Way's Winter Assistance Program.