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Think Milk Is Expensive? Gasoline and Meat Are Even Pricier

Bloomberg business news
Jefferies Chief Financial Economist on Inflation
Updated on

For all the talk about how expensive milk has become, the average price of a gallon of whole milk in the U.S. has only risen 4% over the past year -- and a mere 1.4% since the beginning of 2021.

Milk may be enjoying a moment in the spotlight after a CNN interview with one family went viral, but it is far from being the American staple that has seen prices skyrocket most, fanning fears of inflation across the nation. Consider meat prices -- boneless chuck roast has surged 28% in the last year -- or average prices for a gallon of gas, which as of Thursday surged 61% from at the same time last year.