--- title: From Eggs to Airfare, Blame High Inflation for These 5 Items Skyrocketing in Price description: Inflation once again hit a 40-year high in May. Among the items getting more expensive? Eggs, gas and airfare. authors: - name: Mallika Mitra role: Contributing Editor url: https://money.com/author/mallika-mitra/ bio: Mallika Mitra is a contributing editor for Money, based in Chicago. She has covered investing and retirement for seven years and her work has appeared in CNBC, Bloomberg, Kiplinger, AARP, Barron’s, Bankrate, The Daily Upside, ETF.com, The Bond Buyer, PLANADVISER, PLANSPONSOR and Investopedia. education: Craig Newmark Graduate School of Journalism at CUNY Kalamazoo College at_money_since: 2020 articles: 395 covers: - Economy and Politics - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - CNBC - Bloomberg - Kiplinger - Barron's - Bankrate - WGN-TV - CBS News Radio - This Morning With Gordon Deal - Everyone's Talkin' Money social: - https://twitter.com/mitra_mallika - https://www.linkedin.com/in/mallika-mitra-4577a386/ editors: - name: Julia Glum role: Managing Editor url: https://money.com/author/julia-glum/ bio: Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. She also writes Dollar Scholar, a weekly newsletter that teaches young adults how to navigate the messy world of money. education: University of Florida at_money_since: 2018 articles: 453 covers: - Economy and Politics - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - Newsweek - International Business Times - CBS News - Good Morning America - WUSA9 - Pix 11 - The New York Times - Mashable - The Washington Post - CNBC - Politico social: - https://x.com/superjulia - https://www.linkedin.com/in/julia-glum published: '2022-06-10T17:46:12.000Z' modified: '2024-01-10T17:33:55.000Z' section: Economy and Politics tags: - News word_count: 658 canonical: https://money.com/may-2022-inflation-eggs-airfare/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![A person shops in the meat department at a supermarket in Washington, DC](https://img.money.com/2022/06/News-2022-Inflation-Sets-Another-Record.jpg) Those rising costs squeezing your wallet at the gas station and grocery store just won't quit. U.S. inflation hit a new 40-year high in May, according to [data](https://www.bls.gov/news.release/cpi.nr0.htm#cpi_pressa.f.1) released Friday by the Bureau of Labor Statistics. The consumer price index (CPI), which measures the prices for a wide range of goods and services, rose 8.6% for the month from a year earlier. That's the fastest 12-month increase since 1981 — and the fourth time inflation has notched a 40-year record this year. The acceleration in prices puts even more pressure on the Federal Reserve, the central bank responsible for regulating the country's monetary policy, which has been battling rising costs by hiking [interest rates](https://money.com/interest-rate-hike-investing-strategy/). [Investors may be spooked](https://money.com/inflation-affecting-stock-market-2022/), but the move will hopefully help tamp down your bills. And, yes, people are worried. In a Pew Research Center poll conducted between April and May, [93% of Americans named inflation](https://money.com/inflation-biggest-problem-in-america/) as a “very big problem” or a "moderately big problem," edging out issues like health care affordability, gun violence and climate change. In May, President Joe Biden [called inflation the country's "top economic challenge,"](https://money.com/biden-plan-to-lower-inflation/) and just a few days later, Treasury Secretary Janet Yellen admitted that she was "wrong" about how long high inflation would last. (Last year, both Biden and Yellen had insisted inflation was "transitory," which means temporary.) Wondering where inflation is hitting hardest? According to Friday's report, here are five of the largest recent contributors to the increase in inflation. ## Eggs You're not the only one getting stressed out by [high costs in the grocery store](https://money.com/save-money-on-groceries/) aisle. Food prices climbed 1.2% in May. Dairy products were hit hard, with prices jumping 2.9% — the category's biggest monthly increase since July 2007. Meanwhile, non-alcoholic beverages prices increased 1.7%, and cereals and bakery products prices rose 1.5%. The cost of meats, poultry, fish and eggs jumped 1.1%. The cost of eggs alone jumped 5%, mostly due to an outbreak of avian flu plaguing poultry farms in the U.S. The cost of eating out rose 0.7% in May. ## Plane tickets After spending much of 2020 and 2021 in COVID-19 lockdowns, travelers are getting back out there... only to find that the cost of flying has jumped. Airline fares kept rising in May, up 12.6% after jumping 18.6% the prior month thanks to the soaring cost of jet fuel. ## Gas Don't expect any [relief](https://money.com/how-to-save-money-on-gas/) at the [gas pump](https://money.com/gas-prices-painful-facts/). The price of gas rose 4.1% in May after declining in April. The cost of natural gas rose 8% in May — its largest monthly increase since October 2005. Of course, if you've been on the road lately, you're well aware of spiking gas prices. The national average passed the $5-per-gallon mark this week, [according to Gas Buddy](https://www.gasbuddy.com/go/5-dollar-gas), as the ongoing conflict between Russia and Ukraine, limited capacity at oil refineries and consumer demand continued to push up prices. Though gas prices [vary by state](https://money.com/states-where-gas-prices-are-spiking/), there are some places where gas [now costs more](https://money.com/gas-prices-painful-facts/) than the U.S. minimum wage. The cost of electricity, meanwhile, jumped 1.3%. ## Rent The cost of shelter, a category that includes [housing prices](https://money.com/cities-where-rent-is-cheaper-pandemic/) and focuses largely on rent, increased 0.6% in May. That's the largest monthly increase since March 2004, according to the BLS. The cost of shelter is now 5.5% higher than it was a year ago. Across the country, renters have been [dealing with rising prices](https://money.com/cities-where-rent-prices-rising-fastest/) amid a [red-hot housing market](https://money.com/reasons-renters-arent-buying-homes/) that has potential homebuyers [rethinking their strategies](https://money.com/tips-waiting-to-buy-house-hot-market/) and [turning to therapy](https://money.com/therapy-tips-cope-wild-housing-market/) to cope. ## Cars Buying a [car](https://money.com/inflation-delays-car-fridge-purchases/) — whether it's used and new — is also getting more expensive. The cost of [used cars and trucks](https://money.com/used-cars-cost-more-than-new/) increased 1.8% in May after declining in each of the three prior months. 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