Latest inflation report shows prices in metro Atlanta area up 2.6% over last June

The most recent Atlanta area inflation report shows that over the past two months, prices were up 0.7%.

Year-over-year, though, Atlanta area pricing was up 2.6%, with energy and food costs among the larger forces driving the increase, according to the Bureau of Labor Statistics.

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“Four of the six major grocery store food group indexes increased over the last 12 months, including other food at home (+2.1 percent) and fruits and vegetables (+1.4 percent),” according to the bureau.

Prices for food away from home, such as the price of meals at restaurants, were up again, continuing a months-long trend.

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The latest report for the Atlanta Consumer Price Index said that energy costs were up 5.6% from April to June, and up nearly 20% seasonally when it comes to the electricity cost.

However, when it comes to fuel, BLS said the metro’s gasoline prices had actually gone down by more than 2%.

Among the various factors influencing Atlanta’s inflation rate, housing remained in the lead for contributing to inflation, the BLS said.

“The shelter index (+3.3 percent) was the largest contributor as the indexes for owners’ equivalent (+4.9 percent) and rent of primary residence (+3.2 percent) also increased over the past year,” according to the bureau’s data.

High housing costs were a factor for national inflation as well, with the BLS reporting the increase of the shelter index accounted for almost 70% of all non-food and energy increases in the past year.

As part of a move to address the need for more affordable housing, Channel 2 Action News reported Tuesday that President Joe Biden had proposed instituting a rent price cap for landlords with more than 50 rental units, which would keep cost increases capped at 5% per year if enacted.

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