Consumers grow concerned as inflation rate hits record high

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Sunday, October 9, 2022
Consumers grow concerned as inflation rate hits record high
According to the Census Bureau's Household pulse survey, nearly four in 10 Californians have had difficulty paying usual household expenses or are fearful of eviction.Over the last year, inflation has impacted consumers in many ways and most people have been seeing it when shopping for much-needed everyday items.

LOS ANGELES (KABC) -- Over the past 12 months, inflation has impacted consumers in many ways and most people have been seeing it when shopping for much-needed everyday items.

Food is up 13.5% and energy, including gasoline, is up 25.6%.

People are worried as to what this means and how it can impact their economic future.

"Someone who is on a fixed income, who is a low-income American, may find that the rent is beyond what they can pay, and if that results in homelessness, it could affect him for years," said Jerry Nickelsburg, a professor of economics at UCLA.

According to the Census Bureau's Household pulse survey, nearly four out of 10 Californians have had difficulty paying usual household expenses or are fearful of eviction.

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