AUGUSTA, Ga. (WJBF) — Ashley Gary drives back and forth from South Carolina to Georgia. Those trips are getting more expensive as the price of gas rises.
“It’s getting outrageous,” Gary explained. “I hope it starts going down soon. Before all of this, I could put maybe $45 in to fill it up. Now, it costs about $60 or $70 to fill up.”
“I hate that it’s going up because not everyone is fortunate to go along with the gas prices,” Wyshonda Cowins added.
Gas is not the only thing getting more expensive.
“‘I’ve noticed the biggest increase in meat,” Cowins said.
“The meat prices are sky high,” Anissa Handy added. “I’ve seen a $2 to $3 difference in some places.”
The price of meat, poultry, fish, and eggs increased by 11.9 percent compared to October 2020, according to the Labor Department.
Food, vehicles, shelter and everyday items are all getting pricier because of inflation. The country’s inflation rate for all items increased 6.2 percent over the last year. It is the biggest 12-month increase since 1990.
“Inflation can take a while to get under control,” Dr. Simon Medcalfe, a professor at Augusta University, explained. “It depends on policies that are put in place by the Federal Reserve. I think they’ll start raising interest rates quicker than they had planned.”
Medcalfe says supply and demand is driving up prices.
“There are obviously some supply chain issues with certain items that are restricting supply. That in itself pushes up prices. On the demand side, there’s a lot of spending going on — pent up spending — that’s pushing up demand.”
People are now shopping around to get the best price.
“I’m using apps from different stores to compare,” Cowins said.
“I’m comparing prices and using coupons,” Handy added. “I’m seeing if I can get it [items] delivered or picked up to see if that changes the price a little.”
But, prices may not level off quickly.
“It may take several years to truly get under control,” Medcalfe said.