Raleigh, NC (WTVD) — Inflation still hits North Carolinians hard. Shoppers are paying more for food, gas and a place to live.
“It’s just crazy. It’s outrageous. Prices have changed dramatically. You can’t go to the grocery store and get what you used to get because it costs you.” said Mikyia Musa.
Consumer prices rose 7.7{ea2cba5bdf6fe62bbe85e24807814144a71e77d3ae7311fbc27a008558d1372c}, down from 8.2{ea2cba5bdf6fe62bbe85e24807814144a71e77d3ae7311fbc27a008558d1372c} in September, according to new figures released by the Bureau of Labor Statistics. Prices for used cars, medical care, clothing and airfare are falling.
Musa said she has noticed a slight decrease but hopes it will be in the areas she needs it most.
“I went to the mall today and they had 60{ea2cba5bdf6fe62bbe85e24807814144a71e77d3ae7311fbc27a008558d1372c} off a dress, and it looks like I could use it on food. So it’s kind of crazy how cheap clothing is. Expensive and It should be the opposite,” she continued.
Michael Walden, an economics professor in North Carolina, said prices for discretionary goods are falling because most people can hold off on their purchases.
“Exactly what the Federal Reserve wants is to postpone buying a new wardrobe. And so on, that’s exactly what they want to do.
He said October’s figures showed positive signs that inflation had peaked.
“I think we’re talking about a year from now and this will be on the other side. I think a year from now the Federal Reserve will cut interest rates. I think inflation will be much lower. If When there’s a recession, people will go back to work, so I think there’s a time limit on this,” Walden added.
But for families struggling to pay for essentials like groceries and gasoline, that time won’t come anytime soon.
Hundreds attended today’s Grocery Giveaway in North Raleigh to show the need in the Triangle.
“We’re seeing families we’ve never seen before. People who have lost their jobs, people who have children, and they really don’t know how they’re going to support them.” It’s family friendly,” explained Dan Stevens, director of corporate partnerships at Feed the Children.
Local food banks say demand for the agency services they offer has increased by 40{ea2cba5bdf6fe62bbe85e24807814144a71e77d3ae7311fbc27a008558d1372c}.
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