Why You're Paying More For Potatoes and Bacon Right Now
Be prepared to dig in your pockets a little deeper for those bacon-wrapped potatoes.
Yahoo's finance blog The Exchange reports that in general food prices have risen about 1.4 percent over the past year. The largest price increases were seen on items like potatoes and bacon, while a few items like peanut butter and coffee cost less now than they did one year ago.
The blog explains that one reason pork prices have increased is because of a pig virus that has been reducing the pork supply, and experts anticipate that consumers will be greatly impacted come springtime when grilling season starts. Grocers are taking potato growers to court over allegations of a price-fixing scheme to reduce potato supply and drive up prices.
The Consumer Price Index (CPI) is a measure of the average change in prices over time of household goods and services. The Bureau of Labor Statistics reports that over the past year the index for all items has increased 1.2 percent before seasonal adjustment, which is lower in comparison to the change in the food index.
Categories like meats, poultry, fish and eggs and fruits and vegetables showed the largest index increase over the past 12 months, while the index for non-alcoholic beverages and beverage material declined.
Check out the slideshow above to discover the biggest price changers this year.