DELAWARE COUNTY, Pa. - Inflation is a new reality for many Eddystone residents coming out of the COVID-19 pandemic.
Marcella Burnie, a Chester resident and mom of four kids, is always looking to save money, though isn’t very easy right now.
"My total was 170 for this little bit," she said. "Everything is going up: food, things you need for the house, pampers for the baby."
Similarly, Michael Ferguson, a father of two, says he spent $400 on food alone.
"Croissants for my kids that they eat for breakfast - they went up a dollar. It’s marginal, but it’s a 20 percent increase," he said.
The rate for inflation this year has risen to 4.2 percent, growing at it's fastest pace in 12 years. Compared to now, a dollar from 2020 is worth less than 96 cents.
The prices in both the real estate market and the supermarket have escalated. Besides food, prices are also up on things like toilet paper, televisions, and coolers.
The U.S. Bureau of Labor and Statistics tracks prices on hundreds of items bought. Among some of the biggest price increases are gasoline, up 49 percent since 2020, outdoor sporting goods, up 7.5 percent and used cars and trucks, up 22 percent - the biggest spike since 1981, due to a semi conductor shortage.
Dan Roccato, Personal Finance Expert with credible.com, says with super low interest rates, inflation was bound to happen.
"The economy is recovering, and as the economy is recovers, that’s a good thing," he said. "We’re seeing demand recover, and as demand recovers, we’re not seeing supply keep up."
Roccato says that to fight inflation, people should avoid variable rate loans and credit cards as rates may soon go up. He adds that it may be a good time to pay off an adjustable rate mortgages or invest money in things like gold, commodities and real estate.
Some families are taking different measures, like picking up more hours at work and saving money where they can.
"Obviously, we tried to find a way to buy cheaper items, or even work more to get more and buy more" said Eddie Auasvivas of Eddystone.
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