HARTFORD, Conn. (WTNH) – The prices of just about everything is going up, and it’s happening much faster than expected.
The latest inflation report shows that consumer prices are up more than 9% compared to last year, which experts say is a 40-year high. Anyone who has made a trip to a gas station, grocery store, or car dealership may recognize that prices are steeper than they have been in the past.
On average, consumer prices are up 9.1% from last June, and closer to 10.5% when it comes to food. Across the country, shoppers are reeling from the sharp increase.
Now, people are starting to see the long lines at food distribution centers as people turn to charities to help feed their families. For those who can afford the bill, it can still be rather shocking.
“I notice, like, I go and try to get milk and like even a half gallon of milk, it’s hard to find for under $8 a piece,” said shopper Kate Solomon.
Then there’s the price of gas. The average price per gallon is up 60% from this time last year. However, the prices have been steadily decreasing, and Connecticut has suspended part of its state gas tax to help with costs.
These soaring prices have become a targeted campaign issue for the Republican gubernatorial candidate, Bob Stefanowski. Stefanowski will hold a press conference on inflation and small business on Thursday morning in North Branford.