Gas, groceries and cars: See how much prices have jumped in the Tampa Bay area

The nationwide trend of spiking costs for consumer goods continued in the month of March, when inflation reached levels not seen in decades, the U.S. Bureau of Labor Statistics said on Tuesday.

The rocketing prices are being felt in the Tampa Bay area and South Florida. Both regions saw substantial jumps in consumer goods costs in March.

The Consumer Price Index, which economists use to measure inflation, has increased 8.5% over the last year across the U.S. That’s the biggest year-over-year jump since 1981, labor department data shows. The most recent bump was driven largely by spiking gasoline costs worsened by Russia’s invasion of Ukraine.

For the Tampa-St. Petersburg-Clearwater area, the price index rose 2.1% from January to March:

• 2.4% for food costs
• 14.6% for energy costs like gas
• 1% for all other costs.

Over the past year, the overall rise was 10.2%:

• 8.2% for food costs
• 31.1% for energy costs
• 8.8% for all other costs.

Fuel, groceries, used cars, furniture and clothing are among the many cost categories that have seen steep rises over the last year across the U.S.

Many economists have said that the current inflation rates are a period of fallout and recovery from the COVID-19 pandemic, and some are hopeful that the trend could reach its peak and begin to reverse soon. But the process will likely be a slow one, they warn.

Here’s a look at the latest price trends in the Tampa Bay area and South Florida compared to other major metro areas in the U.S.

This story was originally published April 13, 2022 at 5:50 AM.