John Spry, a finance professor at the Opus College of Business at the University of St. Thomas, spoke with KSTP about how rising gas prices are affecting household budgets. As fuel costs climb, Spry noted that certain goods, particularly those that rely on air transportation such as seafood and flowers, may see price increases first. The coverage highlights how higher energy costs are beginning to ripple through everyday expenses and add to financial pressure for consumers.
From the article:
John Spry, a professor of finance at the Opus College of Business at the University of St. Thomas, said shoppers may also start to see higher prices on some fresh grocery items. He said foods that need to be flown in could be among the first to increase.
“As a consumer, shopping things that have to be flown in like lobster, seafood and flowers,” said Spry.
“Those things that have to be flown in, so costs go up with jet fuel,” said Spry. “Those are the first places you’d see it… you’d see it less with perishable food items.”
The higher costs are also adding to pressure many people already feel from rent, electricity and other bills. …