NY-area consumer prices rise in February on higher food, energy costs
Consumer prices in the metropolitan area rose in February on the higher cost of food and home energy. Seen here, people pick up food from a neighborhood coalition on March 3 in the Fort Greene neighborhood of Brooklyn. Credit: Getty Images/Michael M. Santiago
Consumer prices in the metropolitan area rose modestly in February compared with a year earlier on the higher cost of food and home energy.
The federal Bureau of Labor Statistics said its consumer price index for the 25-county region that includes Long Island increased 1.4% last month compared with February 2020.
Grocery prices climbed 2.6% last month, compared with a year ago. The biggest increases were for dairy products, up 3.9%, year over year, and nonalcoholic beverages, up 4.6%.
The cost of restaurant meals rose 4.9%.
Electricity prices increased 8.6% last month compared with February 2020 while natural gas prices were up 7.7%.
Residential rents climbed 0.8%, year over year — the smallest such increase since 1958. The bureau reported a similar development for January, attributing the small rise in rents to the pandemic.
These increases were partially offset by the 0.2% decline in the cost of gasoline. Also, clothing prices fell 0.8%, year over year.
James T. Madore writes about Long Island business news including the economy, development, and the relationship between government and business. He previously served as Albany bureau chief.
Out East with Doug Geed: Wine harvests, a fish market, baked treats and poinsettias NewsdayTV's Doug Geed visits two wineries and a fish market, and then it's time for holiday cheer, with a visit to a bakery and poinsettia greenhouses.
Out East with Doug Geed: Wine harvests, a fish market, baked treats and poinsettias NewsdayTV's Doug Geed visits two wineries and a fish market, and then it's time for holiday cheer, with a visit to a bakery and poinsettia greenhouses.
