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Prices for basic goods continue to rise

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CENTRAL COAST, Calif. (KION) Prices for groceries, gas and other basic goods continue to rise impacting families across the country and the Central Coast.

The latest Consumer Price Index for October shows a 6.2% percent increase compared to the same month last year.

"The fastest rate in about 30 years," said Bill Hastie, Managing Partner of Hastie Financial Group. "It's measuring the increase in the average cost of the goods we as consumers are going to pay.

Families across the Central Coast are witnessing prices going through the roof. Rosa Crespo, a mother of four children said with high prices, it's been very difficult for her family since she and her husband work seasonally.

"I try not to move the cars because how am I going pay for gas," said Crespo. "Right now the limited earnings we get. Well, we use it for groceries. We go when there are specials or wherever it is cheaper, we rush over there. I get the weekly deals in the mail and I compare prices."

But Crespo and her family are not the only ones suffering from inflation. Angelica Espinosa also said that she also looks for the deals of the week.

"Many times it is not enough, you have to be smart yourself and stretch your money as much as possible to be able to get everything you need to buy because rent is also very high," said Espinoza.

According to Hastie, inflation is going to affect those at the lower end of the income spectrum including farmworkers. He also said, despite wage increasing it will affect every consumer.

"When inflation outpaces wage growth, we're not only paying more, but we're actually losing ground," he said.

Hastie also said that it's expected for us to be living with this inflation well into 2022.

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Jonathan Sarabia

Jonathan is a former multi-media journalist at KION News Channel 5/46.


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