Price Hikes On Groceries And Gas Getting Harder To Ignore

If it feels like you’re paying more for your groceries and gas these days, you’re probably right according to new data from the U.S. Bureau of Labor Statistics.

Video Transcript

- If it feels like you're paying more for everything these days, you're probably right. New government data shows prices increase the rate that the country has not seen in more than a decade. And as Erin Jones explains, it's getting worse here at home in North Texas.

- Every grocery run, Sandra Potter buys the same items.

- Normally when I get my food every week, it's about $100.

- But now--

- Just in the past few weeks, it's been about 160.

- Like the Kraft single cheese was like $550 for a brand of Kraft single cheese when it used to be like $3.

- Fatima Calderon reaching for the generic brand instead. A new report from the US Bureau of Labor Statistics shows overall consumer prices are continuing to rise. In DFW, almost 2% in the last two months and just over 6% in the last year. Food prices increasing 0.3% in the last two months. And just over 3% in the last year.

- I don't like it. I don't like the gas prices going up either.

- Yeah. It is concerning sometimes you know. When it can just go from you know, $3 the difference. You know, I don't know what.

- Gas prices are up almost 8% in the last two months. And now, oil is around $70 a barrel for the first time in three years. Economists say as demand for goods and services continues to increase, supply chains are struggling to keep up causing the jump in prices.

And if you're looking to purchase a new or used car, prices have gone up about 7% in the last two months. And about 20% in the last year.

- It's definitely gradually increase since that we've been out for COVID. Just everything has been going up, anything you're shopping for.

- Economists predict the pandemic driven situation will get better over time, but it will require some patience.

- We're just going to have to live through it.

- In Richardson, Erin Jones, CBS 11 News.

- A lot of patience, Erin. Thank you. There aren't many categories where prices have fallen over the last year, but there are some. Both alcoholic and non alcoholic drinks have decreased slightly in price. Here in North Texas, electricity costs and tuition prices are also slightly down in the last year, according to government statistics as well.