Inflation has increased in recent months, raising concerns about rising prices that began during the pandemic. Key items such as eggs, beef, and electricity have seen significant price hikes. A new Price Tracker released by a data team provides insights into current and historical prices for groceries, utilities, housing, and gas across the 100 largest metropolitan areas in the United States.
Price increases vary significantly by location, affecting how consumers manage their budgets. For example, a bag of potato chips is generally cheaper in the Midwest compared to the Northeast. In contrast, housing costs in cities like San Francisco and New York are considerably higher than in places like Cleveland, Ohio.
The Price Tracker allows users to compare local prices against national averages and explore nearby areas to understand regional price differences. It also highlights national trends, revealing that the average price of a single-family home in the U.S. is approximately $368,000. This figure has surged by about 13% over the past five years and 38% over the last decade.
Additionally, average monthly electric bills for residential customers are around $165. This amount is 14% higher than in January 2020 but about 6% lower than in 2015 when adjusted for inflation, according to the latest data from the U.S. Energy Information Administration.
The average price for a gallon of unleaded regular gasoline stands at $3.18, reflecting an 18% increase from five years ago. The Price Tracker focuses on the 100 largest metro areas due to inconsistent data from smaller localities, which collectively house about two-thirds of the U.S. population. The tool primarily utilizes U.S. government statistics, along with housing data from an online listing firm. It updates automatically to provide the most current information.