Local reaction to higher prices, inflation numbers
PORTSMOUTH, Va. (WAVY) – Inflation numbers show consumer prices have ticked up again. President Trump said he’s committed to improving everyday life for Americans.
According to AP, U.S. inflation got worse with rising prices of groceries and gasoline.
In the latest report from Wednesday, Feb. 12, from the U.S. Bureau of Labor Statistics about the consumer price index report, inflation jumped 3% for January. Prices rose half a percent just a month earlier.
It is the largest month-to-month increase in over a year.
When you go to the grocery store, your wallet might feel the pain. Grocery prices have climbed half a percent in January and pushed higher due to egg prices that have jumped to 53% higher when compared to prices a year ago; these prices are also due to the effects of the Bird Flu, AP states.
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Although many might be feeling the pain of inflation, one person told 10 On Your Side they make every dollar count.
Another said inflation is not hitting them too hard.
“Just about the same,” said Michael Smiley. “You just gotta be careful.”
AP states inflation often jumps in January due to companies raising their prices at the beginning of the year, but the government season adjustment process is supposed to balance the effects.
Now, the U.S. The Bureau of Labor Statistics does not cover President Trump's first couple of weeks in office. But AP's data still shows it could be more difficult than President Trump and many economists had hoped.