Chicago-area residents paid more last month for some items at the grocery store, for apparel and for used cars — but the real jump came at the gas pump.
The price of unleaded regular gas rose 11.7% in the Chicago area in March, according to the Department of Labor’s consumer price index. Compared with two months earlier, the price was up 20.4%.
Add up all the data from the past year and compared with the start of the pandemic in March 2020, the price of unleaded regular gas in the Chicago area was up 26%.
Gas prices generally have been on the upswing nationally since April 2020, largely because of rising prices for crude oil.
Up until a small decline at the end of March, U.S. gas prices had moved higher for 17 consecutive weeks, according to the U.S. Energy Information Administration. The agency said last week it expects crude oil prices to moderate in the second half of the year.
As of Wednesday, the average price of unleaded regular in the Chicago area was $3.184 a gallon, according to AAA. That compared with average prices of $3.105 a month ago and $2.006 a year ago.
In the city of Chicago, Wednesday’s average price was $3.372 a gallon. That compared with $3.251 a month ago and $2.217 a year ago, AAA said.
Gas isn’t the only purchase that may cause a bit of sticker shock for Chicago-area consumers.
Last month, prices at the store for meat, poultry, fish and eggs that were eaten at home rose 3.1%. Prices for those categories of food were up 6.3% year over year.
Clothing prices rose 1% in March but remain lower than a year ago.
Another category where prices continue to increase is used cars and trucks. Prices were up 2.4% last month and compared with March 2020 up 9.3%, according to the Labor Department.
One upside for motorists? The price of auto insurance last month was down 7.6% from March 2020.
