CPI inflation report: Egg, gas and other prices that jumped in January
Egg prices continue to rise
Egg prices continue to rise, much due to the avian strains of bird flu and other disease that has caused culls of millions of egg-laying chickens and birds. Anthony Esposito of Island Capital Investments discusses.
The latest Consumer Price Index was released Wednesday, showing prices have continued to rise for Americans over the last month.
CPI inflation report
By the numbers:
The consumer price index increased 3% in January from a year ago, Wednesday’s report from the Labor Department showed, up from 2.9% the previous month.
These numbers show inflation is remaining above the Fed’s 2% target.
Why you should care:
Accelerated inflation means Americans are paying more for groceries, gas, used cars and other common items.
The tick up in consumer prices also makes it less likely the Fed will cut rates anytime soon.
RELATED: Fed declines to lower interest rate, ending 3-cut run
The other side:
Inflation often jumps in January as many companies raise their prices at the beginning of the year, though the government's seasonal adjustment process is supposed to filter out those effects.
Here is a look at the products that saw the biggest jump in price from December to January:
Egg prices
FILE - Empty shelves are seen in the egg section of a grocery store on January 23, 2025 in Miami, Florida. (Photo by Joe Raedle/Getty Images)
By the numbers:
Egg prices jumped 15.2% in the last month, the biggest monthly increase since June of 2015.
Egg prices have soared 53% compared with a year ago, and is by far the highest inflated price on the Consumer Price Index report.
Big picture view:
An avian flu epidemic has forced many egg producers to cull millions of birds from their flocks. Some stores have imposed limits on egg purchases, and some restaurants have placed surcharges on egg dishes.
RELATED: Grocery stores implement limits on egg purchases as bird flu spreads: See the list
Frozen juices and drinks
By the numbers:
Prices for noncarbonated juices and drinks that come frozen jumped 5.3% in the last month, and have increased 7.7% in the last year.
Instant coffee
By the numbers:
Instant coffee costs 4.4% more in the last month, and prices are 7.1% higher than they were a year ago.
Bacon prices
By the numbers:
Bacon prices jumped 4.1% in the last month, and are 6% higher than they were a year ago.
Steak prices
By the numbers:
Prices for uncooked beef steaks went up 2.8% last month, and are 5.1% higher than they were a year ago.
Olives, pickles and relishes
By the numbers:
Prices for olives, pickles and relishes went up 2.7% in the last month, and are just over 3% higher than a year ago.
Canned fruits and vegetables
By the numbers:
Average prices for canned fruits and veggies went up about 2% last month, with canned fruits seeing a higher rise.
Canned fruit costs are nearly 3% higher, with canned vegetables about 1.5%.
Gas prices
By the numbers:
Gas prices went up an average of 1.8% in the last month among regular, midgrade and premium fuel types.
Big picture view:
Gas prices are cheaper than a year ago by about 0.2%.
Used cars and trucks
By the numbers:
Prices for used cars and trucks went up 2.2% in the last month.
Prescription drugs
By the numbers:
Prescription drug costs rose 2.5% in the last month, and are up 4.5% from a year ago.
Book prices
By the numbers:
Book prices went up 3% in the last month, but overall prices are only about 1% higher than last year.
Parking fees
By the numbers:
Parking fees jumped 6.4% in the last month, and are about 5% higher than they were at this time last year.
Video discs and other media
By the numbers:
Prices for video discs and other media jumped 7% in the last month, and are nearly 20% higher than a year ago - one of the biggest increases.
Admissions to sporting events
By the numbers:
Admissions prices for sporting events rose 4.3% in the last month, and are up 6.5% from a year ago.
The Source: Information in this article was taken from the January 2025 Consumer Price Index’s detailed expenditure category. This story was reported from Detroit.