Atlanta consumer prices rise more than 10% over the year; largest yearly increase in 4 decades

 

Consumer Prices in Atlanta Metro Area, 12-month Increase, February 1999-February 2022

Consumer prices in the metro Atlanta area rose 10.6% for the 12 months ending in February 2022, according to information from the U.S. Bureau of Labor Statistics. For the nation, prices increased 7.9% for the comparable period. 

The increase in the Consumer Price Index for All Urban Consumers for the Atlanta-Sandy Springs-Roswell, Ga., was the largest 12-month increase recorded since 1981.

Costs for food and beverages in the Atlanta area increased 6.5% as prices for food at home rose 5.9% and food away from home increased 7.6%.

Housing costs rose 8.6% as rents increased 8.5% and costs for household fuels and utilities rose 7.6%. Apparel prices in the metro Atlanta area were up 11.8%.

Transportation costs increased 11.8% with prices for new vehicles increasing 30.7% and prices for used cars and trucks rising 41.4% over the year. Gasoline prices rose 39.9% for the 12 months ending in February.

Recreation costs increased 5.5% and costs for education and communication were up 1.9% over the year.

The index for energy costs increased 22.3%, while prices for all items less food and energy rose 10.1%.

Costs for services increased 7.8% for the 12 months ending in February. The services index should be especially noted, as the index may indicate that inflation is becoming more embedded in consumer purchases.

Comparison with the nation

Overall, costs in the Atlanta area continue to grow at a faster pace than the nation, although this varied by item.

For the two months ending in February, consumer prices increased 2.3% in the Atlanta area, while they rose 1.8% nationally.

Housing, apparel, transportation, recreation, and education and communication costs all rose faster for the Atlanta area than for the nation as a whole.

Costs for services increased 7.8% in the Atlanta area compared to 4.8% nationwide.

Costs for food and beverages and energy rose at a slower rate for Atlanta than for the nation. Energy costs rose at a slower rate in the Atlanta area due to lower increases in household fuels and utilities despite gasoline prices rising faster.

The news release for the national CPI is available at Consumer Price Index Summary - 2022 M02 Results (bls.gov).