Inflation in Dallas-Fort Worth surges 9% over last year, the biggest jump since 1981
Prices in the Dallas-Fort Worth-Arlington area jumped 9% over the last year, the largest increase since December 1981, the U.S. Bureau of Labor Statistics reported Tuesday.
And area prices soared 3% in February and March, the largest bi-monthly change since April 1980, according to the March Consumer Price Index.
Food prices surged by 4% in the last two months, the largest bi-monthly jump since February 1977. Grocery store prices were up 5% and restaurant prices 2% in that period.
Over the year, food prices rose 10%, the largest increase since April 1981, with groceries up 14% and restaurants 6%. This was mainly due to an increase in prices for meats, poultry, fish and eggs. Price increases for fruits and vegetables also contributed.
Energy prices rose 15% in February and March, largely driven by high gas prices, up 28%. Prices paid for natural gas rose 7%, while prices for electricity advanced 0.4% for the same period.
From March 2021 to 2022, energy prices surged 37%. Gas prices jumped by 48%, electricity by 26% and natural gas by 23% during the past year.
Other product prices rose 2% over the past two months, mainly due to higher prices for housing, clothing, health care and new cars. These increases were partially offset by lower prices for education, used cars and trucks and other goods and services in the last two months. Over the year, products excluding food and energy increased by 7%, the largest advance since February 1984. The largest contributors were housing, used cars and trucks, health care and household furnishings.
