What is the CPI in New Jersey?

Over the year, the CPI-U advanced 6.3 percent, while the index for all items less food and energy increased 3.6 percent….Consumer Price Index, New York-Newark-Jersey City — May 2022.

Table of Contents

Month	All items	All items less food and energy
Mar 2021	2.0	1.4
Apr 2021	3.2	2.6
May 2021	3.2	2.5
Jun 2021	4.1	3.7

What is the current CPI index rate?

Not seasonally adjusted CPI measures The Consumer Price Index for All Urban Consumers (CPI-U) increased 8.6 percent over the last 12 months to an index level of 292.296 (1982-84=100). For the month, the index increased 1.1 percent prior to seasonal adjustment.

What is the inflation rate in NJ?

June 2022

Prices (BLS/Haver, AAA)
CPI-U Inflation	6.8%	6.2%
“Core” CPI Inflation	4.9%	4.6%
National Gas/gal. Updated 6/4/22 12:00 AM	$4.82	$4.23
New Jersey Gas/gal.	$4.92	$4.28

What is the cost of living increase for 2021 in NJ?

The consumer price index, a key indicator of inflation, rose 5.1% between February of 2021 and 2022 for the New York metro area, including northern and central New Jersey, the U.S. Bureau of Labor Statistics announced Thursday.

What is the cost of living increase in NJ?

In the last year, the cost of living in New Jersey rose by 1.6%. The largest increases in costs can be expected to occur in housing, transportation, and food.

What is the cost of living increase in NJ for 2021?

Since 1975, Social Security’s general benefit increases have been based on increases in the cost of living, as measured by the Consumer Price Index. We call such increases Cost-Of-Living Adjustments, or COLAs. We determined a 5.9-percent COLA on October 13, 2021.

What is the cost-of-living increase for 2022 in NJ?

(5.9%)
2022 COLA Increase (5.9%) With inflation (CPI) running much higher than in past years, seniors and retirees will see a nice boost to their social security benefits check in 2022.

What is the cost-of-living in NJ 2022?

Comparison Highlights

Cost of Living Indexes	Jersey City, NJ	Difference
Overall Index: Homeowner, No Child care, Taxes Not Considered	144.4	4.3% more
Food & Groceries	107.9	5.7% more
Housing (Homeowner)	209.9	14.7% more
Median Home Cost	$572,300	$103,100 (18.0% more)

What is the cost of living increase for 2022 in NJ?

What will inflation be in 2023?

3.1%
The nonpartisan agency expects the consumer price index to rise 6.1% this year and 3.1% in 2023. This forecast suggests that inflation will slow from current annual levels of 8.3%, yet it would still be dramatically above a long-term baseline of 2.3%.

How often is CPI released?

The BLS publishes two CPI indexes each month.

What is the inflation rate in New York?

Last week, the U.S. Bureau of Labor Statistics (BLS) released new data indicating consumer prices grew by 8.5 percent nationally and 6.1 percent in the New York City Metropolitan Area (NYC metro area) in March 2022 compared to the same month a year ago.

What is the cost-of-living increase in NJ for 2021?

What is a livable salary in NJ?

Living Wage Calculation for New Jersey

	1 ADULT	2 ADULTS (1 WORKING)
	0 Children	2 Children
Living Wage	$20.57	$43.44
Poverty Wage	$6.19	$12.74
Minimum Wage	$13.00	$13.00

Who has higher taxes NY or NJ?

Sales Tax. The state of New York levies a 7 percent tax on most sales and New Jersey 4 percent. New York City adds to the sales tax, but New Jersey has no local sales tax. Combined local and state sales tax brings New York City’s tax rate to an 8.625 percent, while New Jersey’s rate lowers to an average of 6.95 percent …

Are property taxes higher in NY or NJ?

“New Jersey has the third highest property tax. Plus, the state’s individual income tax burden is above average, at almost 2.5%,” said WalletHub analyst Jill Gonzalez….New Jersey Is 2021’s State with the 7th Highest Tax Burden: Study.

Overall Rank (1=Highest)	1
State	New York
Total Tax Burden	12.79%
Property Tax Burden	4.40% (6)
Individual Income Tax Burden	4.96% (1)

Is CPI expected to rise?

Core CPI is expected to rise 0.4% or 6% year-over-year.