BRISTOL, Conn. (WTNH) — Consumer goods are being impacted across the board. Now, it’ll cost you nearly 50% more to fill up your tank vs. this time last year.
“Things are skyrocketing. It’s not a dollar or two dollars here or there,” said Gina Legnani Pellrine, owner of Rodd’s Restaurant in Bristol.
A global supply chain shortage caused by pent-up amid the pandemic. Now, inflation is up 6% this October compared to last.
At popular Bristol breakfast spot Rodd’s, that means Pellrine is paying hundreds for less food. She fears it will put more restaurants out of business.
“The restaurants are suffering. We took a hard hit to have prices go up on top of that when we’re struggling as it is,” said Pellrine.
Those prices can be felt the most at the pump. Local experts say it’s only going to get worse in the weeks ahead.
“I can tell you that the trend is moving towards all-time record high prices,” said Chris Herb, president of CT Energy Marketers Association.
University of New Haven Finance Expert Leah Hartman says inflation is hitting those with limited resources the hardest.
“So it’s a disproportionate hit to those with lower incomes than to those with higher incomes,” said Hartman.
Hartman says it’s the cost of getting back to business in a post-COVID world.
“We’ve had people going back to work. We’ve had pent-up demand about travel to go out to a store, to go out to a restaurant,” Hartman said.
Energy experts also point to federal energy policy.
Rodd’s Customer Dan Morelli says the country’s chief executive is to blame. And he’d much prefer the previous administration’s policies.
“Revert back to that and hopefully everything will straighten out,” Morelli said.
Officials say this is the largest jump in consumer prices.