5 Things That Are Still Breaking Inflation Records in 2024

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Inflation is inching up again. In February, prices rose 0.4% from one month earlier and 3.2% from one year earlier, the latest federal data shows. Both increases are ever so slightly larger than they were in January.

At the same time, inflation has come a long way since 2022, when the annual rate hit 9.1%.

Yet, despite the decline in overall inflation, some items have recently recorded some of their biggest price increases ever.

Following are the expenses that are still soaring at a record pace in 2024.

Girls’ apparel

The Children's Place store
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Latest one-month price change: 6.8% increase (the largest month-over-month increase on record)

Latest 12-month price change: 3.6% decrease

While girls’ clothing saw a record-breaking one-month price jump in February, they actually fell on an annual basis.

Overall, the cost of clothing is moderating. In February, apparel prices collectively rose by only 0.6% from one month prior, and they were flat compared with one year prior — no annual increase at all, believe it or not.

Other beverage materials

Worried woman drinking a cup of tea
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Latest one-month price change: 2.9% increase (the largest month-over-month increase on record)

Latest 12-month price change: 4.3% increase

This category includes all drink materials other than roasted and instant coffee, such as tea.

Coffee prices have fared better lately, though: As of February, they were down 1.2% month over month and down 2.8% year over year.

Distilled spirits consumed at home

A man drinks a glass of whisky
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Latest one-month price change: 1.4% increase (the largest month-over-month increase on record)

Latest 12-month price change: 1% increase

The good news, for those who enjoy a stiff drink, is that grabbing a glass while out on the town got a little cheaper in February, with prices for distilled spirits consumed away from home falling 1% from the prior month. (They were still up — by 4.5% — from one year earlier, though.)

Internet services and electronic information providers

Stressed woman holding her head while working at a laptop
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Latest one-month price change: 1.3% increase (the largest month-over-month increase on record)

Latest 12-month price change: 4.3% increase

On average, internet service now runs $65 a month, according to a recent Forbes survey of 22 different internet service providers, also known as ISPs.

Nonprescription drugs

Woman taking a pill
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Latest one-month price change: 0.6% increase

Latest 12-month price change: 9.3% increase (the largest year-over-year increase on record)

Believe it or not, the prices of prescription medications have fared better than those of over-the-counter meds lately.

In February, prescription drug prices fell 0.1% month over month and rose only 0.3% year over year.

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