GOOD NEWS! Inflation Drops To 4-Year Low: How Are New Jersey Prices?

GOOD NEWS! Inflation Drops To 4-Year Low: How Are New Jersey Prices?

In a time when we see so many stories about business closures, bankruptcy, high prices, etc. It is nice to see some good news and lower prices. The question we have in this article is, how does this "good news" affect us here in New Jersey?

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In a recent article from Patch, the topic was inflation and how it has hit a 4-year low, and that is good news, with the problem of high inflation having been with us over the last four years. It's been tough on Americans, including us right here in the Garden State.

According to Patch, "Grocery prices in New Jersey remained about the same in April, according to a better-than-expected inflation report that shows President Donald Trump’s sweeping tariffs weren’t felt at checkout counters last month."

In addition, "The Labor Department’s Consumer Price Index report released Tuesday showed inflation was down 2.3 percent from a year ago, and down slightly from 2.4 percent in March. It was the smallest increase in more than four years."

According to government reports, food prices saw their biggest decline since 2020. A big contributing factor was the dramatic decrease in the price of eggs. Egg prices have come down 12.7%.

Some additional key points from the Patch article include:

• Breakfast cereal: The cost of cereal has fallen 2.6 percent from this time a year ago and 2.5 percent since March.
• Lettuce: The salad staple costs 6.4 percent less than it did a year ago, but is up 0.3 percent since March.
• Potatoes: The cost is 0.5 percent less than in April 2024, but 0.3 percent more than in March.
• Baby food and formula: Prices are up 1.2 percent from a year ago and 0.9 percent from March.