Why were prices rising in Sep 2023?

As of September 2023, the Basket Index for a US family of 4 sits at 124.6 — meaning the cost of a standard household basket has risen 5.9% versus a year ago and is up 0.42% from the previous month.

Most of the move comes from rent of primary residence, gasoline (regular unleaded), electricity (residential) and ground beef (100% beef). Together these items account for roughly 35% of the year-over-year basket cost change.

Offsetting the increases: eggs (grade a, large) (-28.8%), milk (whole, fortified) (-5.2%), bananas (-2.8%) are cheaper than a year ago.

Inflation is rarely caused by one thing. Energy prices feed into food production and shipping; rent moves with housing supply and interest rates; and grocery prices respond to supply shocks, weather, and demand patterns. Basket Index does not claim causality — it tracks the prices households actually face, and lets you see which categories are pulling the basket up.

• Rent of Primary Residence: +7.4% YoY, ~21% of basket move.
• Gasoline (Regular Unleaded): +3.7% YoY, ~9% of basket move.
• Electricity (Residential): +2.4% YoY, ~3% of basket move.