"Let’s look at a somewhat detailed breakdown of some of the different price categories hidden beneath the CPI aggregate of prices as a whole.
In the twelve-month period ending in July 2014, food prices in general rose 2.5 percent. A seemingly modest amount.
But when we break this aggregate down, we find that beef and veal prices increased by 10.4 percent and frankfurters went up 6.9 percent, but lamb rose by only by 1.7 percent.
Chicken prices increased more moderately at 2.7 percent, but fresh fish and seafood were 8.8 percent higher than a year earlier.
Milk was up 5.4 percent in price, but ice cream products decreased in price by minus 1.4 percent over the period.
Fruits increased by 5.7 percent at the same time that fresh vegetable prices declined by minus 0.5 percent.
Under the general energy commodity heading, prices went up by 1.2 percent, but propane increased by 7.3 percent in price over the twelve-month period, while electricity prices, on the other hand, increased by 4 percent.
So why does the overall average of the Consumer Price Index seem so moderate at a measured 2 percent, given the higher prices of these individual categories of goods?
Because furniture and bedding prices decreased by minus 3.1 percent, and major appliances declined in price over the period by minus 6.2.
New televisions went down a significant minus15 percent
In addition, men’s apparel went down a minus 0.2 percent over the twelve months, but women’s outerwear rose a dramatic 12.3 percent in the same time frame.
And boys and girls footwear went up, on average, by 8.2 percent.
Medical care services, in general, rose by 2.5 percent, but inpatient and outpatient hospital services increased, respectively, by 6.8 percent and 5.6 percent."
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