Atlanta hit harder by historic inflation than other cities
ATLANTA, Ga. (CBS46) - Historic inflation is impacting shoppers. Costs for food, gas and housing essentials are going up, putting a bigger dent in your wallet.
The U.S. Labor Department announced Tuesday that the Consumer Price Index jumped 8.5 percent in the last year -- which is the highest in 41 years.
Meanwhile, the Atlanta metro area has been hit much worse than the rest of the country. Between February of last year and February of this year, gas and food prices went up more than 10 percent, forcing people to change their daily routines.
“Even just shopping for meat, that’s like half the bill now. Something as basic as chicken, it’s $8 to $9 now, when I feel I used to spend $4 on,” said Chloe Vazquez, who’s shopping for groceries.
Vazquez is going elsewhere to hunt for better deals.
“Just budgeting different, doing bulk. I already shop at cheaper places,” Vazquez said.
Some shoppers are flat-out choosing to eat differently.
“I buy, seafood - I buy salmon. And I don’t anymore. The only thing I buy is something on sale,” said Rhoda Wallace, who was shopping for groceries.
Experts say, there’s a lot contributing to the inflation
“Delays with ports, not being able to clear the ships with the lack of truck drivers, and then it’s being compounded by the Russian invasion of Ukraine and the increases of the price of oil,” said Tibor Besedes, professor at Georgia Tech School of Economics.
Some of those issues don’t appear to have an end date.
“Well, we’re going to have high inflation for the rest of the year,” said Tom Smith, finance expert at Emory University’s Goizueta Business School. He believes it could continue well through 2023.
Experts also say one of the reasons Atlanta’s prices are so much higher than the rest of the country is because so many people are commuting. That means, there’s much more demand for gas which drives up the prices and will also affect the supply chain.
All over the metro area, many are looking at their wallets to figure out how to make due.
“Trying to plan ahead of time. Go with a list to the store,” said Lisa Morris, who was shopping for groceries.
Copyright 2022 WGCL. All rights reserved.