FRESNO, Calif. (KFSN) — Friday’s inflation report was delayed by a government shutdown that’s now going into its 25th day.
Americans are making every effort to stretch every dollar as some are working without pay, while others will see a delay in much-needed food benefits including SNAP and CalFresh recipients.
Necessities are becoming increasingly expensive for everyday Americans as inflation is now going up at the fastest annual rate since January.
Shoppers are feeling the squeeze on their monthly grocery budget as they make each dollar stretch.
“It’s like $200 to $300 a month and that’s just me,” said one shopper.
On Friday, the Bureau of Labor Statistics released data showing inflation up 3 percent from last year. The report is the first major economic evaluation since the government closure began 24 days ago.
And it’s not just inflation that’s pinching Americans’ pocketbooks. Steep tariffs are also the catalyst for higher prices from coffee to cars.
Shoppers on a fixed income are now looking to stores with lower prices.
“I try to do the best that I can, shop where I can get — Dollar Store versus Wal-Mart or somewhere that’s a little bit more expensive. The $1.25 is good for me,” said one Valley shopper.
The BLS released average retail prices for select items including your next cup of morning coffee.
The caffeinated beverage is now up more than 41 percent for ground roast at just over $9 per pound.
Another staple that’s leading families strapped: ground beef.
Last September, ground beef was selling for $5.47 a pound. Now that price is currently at $6.32.
One shopper said she was cutting back where she could.
“On a lot of meats, stuff like that. You just buy stuff that stretches — beans and rice.”
As the government shutdown continues with no relief in sight some are turning toward their local food banks to supplement their pantries as next month’s SNAP and CalFresh benefits will be delayed.
“It will make us — people like me — and other individuals have to make the hard choice. Are we gonna put food on the table or have proper healthcare?,” said Najee Kinard who is a mother and SNAP recipient.
Despite record-high prices for goods, the Dow turned out a record day on Wall Street following today’s inflation numbers. The Dow closed above 47,000 points.
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