Want to drink for cheap this summer? Stay home

Budget drinkers might want to skip the bar and raise a glass at home this summer. Alcohol prices are up 2% since last year, according to the consumer price index for April, but beer and hard liquor served at bars and restaurants saw steeper hikes, jumping 4% and 2.7%, respectively. The booze squeeze comes as households rethink what they spend on food and drinks at home versus out and about. With grocery prices 1.1% higher than a year ago but restaurant checks up a steeper 4.

Alcohol offers a miniature snapshot of the broader inflation picture, Saunders said, encompassing everything from manufacturing to transportation costs. Spirits are typically sold in glass bottles that tend to be heavier than plastic ones, for example, which can weigh on fuel expenses. Energy prices were up 1.1% in April from the previous month and 2.6% from the year before.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How to lower your car insurance bill as rates rise this yearJ.J. McCorvey is a business and economy reporter for NBC News.
Source: NBCNewsHealth - 🏆 707. / 51 Read more »

UAW’s Tennessee win fuels hopes in the South, but skeptics remainJ.J. McCorvey is a business and economy reporter for NBC News.
Source: NBCNews - 🏆 10. / 86 Read more »

The class of 2024 faces a tougher job market than last year's, but it could be worse.J.J. McCorvey is a business and economy reporter for NBC News.
Source: NBCNewsHealth - 🏆 707. / 51 Read more »