STOCKTON, California — Not including the gas price increases that followed the Russian invasion of Ukraine, inflation has been seen all across the state and nation.
According to experts, consumer inflation has hit its highest level in 40 years.
Grocery prices increased 8.6%. That is the biggest year-to-year increase since 1981. Also, gas prices are up 38%. Plus, housing costs are up nearly 5%, the biggest yearly jump since 1991.
The increases can be seen just about anywhere.
At Fat City Brew & BBQ in Stockton's Miracle Mile shopping district, Don King says a busy lunch hour is a good thing, but not the soaring prices for meat from a year ago to now passed on to customers.
"A half-pound or a pound of tri-tip was like $17.49. Now it's like what is it? $28," said King.
Still, his restaurant is packed with hungry customers willing to pay more.
Down the street on Pacific Avenue, Meryl Southern has cut hair for 42 years and owns the Spa at Southern Exposure.
She says hair products have soared in price. The added costs were also passed on to her customers.
"My haircuts are $70, they were $65. My color is now $85 it was $75. That's just for one process," she said.
And gas? approaching $6 a gallon. Retiree Kim Sahagun is consolidating her trips to save on cash.
"Grocery shopping, doctors appointments, job interviews," said Sahagun.
Economist David Lang's advice? Be prepared for the high costs everywhere, but know it won't last forever.
"These are the biggest numbers that we've seen in forty years. But, that means forty years ago we saw numbers like this, and then they came down," said Lang, chair of the Economics Department at Sac State.
One of the few winners in the current economic crisis? The homeowner.
Lang says homeowners with fixed-rate mortgages have benefitted from extremely low-interest rates. With everything else going up, they make the same payment each month.
