[ad_1]
HOUSTON – From groceries to gasoline to cars and housing, the price of just about everything is soaring out of control.
We’ve shown you how to save a few extra bucks on gasoline, but as prices increase everywhere, we’re all wondering how much longer we’ll need to cope with the surge in prices.
KPRC 2 Investigates is looking into the growing inflation rate and how many years we can expect it will take for prices to get back to normal.
Inflation is at an all-time high
Right now, the inflation rate is standing at a whopping 8.6%, which is the highest inflation cycle in 41 years.
With gas prices skyrocketing up by nearly 50% and the price of groceries up roughly 12%, the average American family is now spending $346 more a month than last year, according to Moody’s, a financial services company.
Small business owner Devin Strahan started his own company in the middle of the highest inflation cycle. When he launched his new company, “Devin’s Spiked Root Beer,” he wasn’t expecting the price of his materials to soar.
“The cost of the cans has gone up. The cost of the four-pack of plastic lids has gone up. Sugar, a year ago for a 50-pound bag was about $22. Now, it’s at an average of $32 for a 50-pound bag, so that’s a $10 increase in a year’s time,” said Strahan.
“The cost of the cans has gone up. The cost of the four-pack of plastic lids has gone up. Sugar, a year ago for a 50-pound bag was about $22. Now, it’s at an average of $32 for a 50-pound bag, so that’s a $10 increase in a year’s time,” said Strahan.
[ad_2]
