WASHINGTON (WUSA) -- Prices were modestly higher for gas, food and shelter -- and overall inflation was more subdued than in 2011.
The Consumer Price Index -- the government's key measure of inflation -- was up 1.7% last year compared with 3 percent in 2011. But could this year could be tougher for consumers?
The U.S. Department of Agriculture has reported that consumers can expect to pay 3 percent to 4 percent more for groceries this year. You can blame the drought, which generally drove up feed prices.
Here are some examples:
- Beef prices as a whole could see the biggest jump from 4 percent to 5 percent.
- Dairy product prices are forecast to climb 3.5 percent to 4.5 percent.
- Poultry and egg prices are projected to rise 3 percent to 4 percent
- Pork prices are expected to rise 2.5 percent to 3.5 percent in 2013.
When you work on that budget for food you are going to feel it this year.