Residents in Leon County weigh on rising costs

Working families, people living on fixed incomes and even retirees say they’re feeling the impacts of rising costs and something has to give soon.
Published: Apr. 13, 2022 at 8:20 PM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

TALLAHASSEE, Fla. (WCTV) - Working families, people living on fixed incomes and even retirees say they’re feeling the impacts of rising costs and something has to give soon.

Like many Americans Michael Randolph, a retiree in Tallahassee says inflation is crippling. He says everything from water, to gas to groceries are on the rise, and might drive him back into the workforce.

“Water used to be like three for $9 or three for $10. It’s like three for $12 now. It’s like everything is going up,” he said.

Financial expert Bruce Hagan attributes the rise to a number of factors; including the supply chain issues brought on during the Covid pandemic.

“Everything in general, costs 8.5 percent more than it did a year ago,” he said.

As federal regulators try to curb inflation by increasing interest rates, Hagan shares that it’s not clear when prices might start to level off, so in the meantime he advises families rethink their budgets, and find ways to cut costs for themselves.

“You may want to forgo that latte in the morning. You may want to not order clothes off of Amazon. You may have to delay vacation or cut back on the days you were going to be on vacation. You’re going to have to make some adjustments, most people to weather this storm,” said Hagan.

He says there is a lot of conversation about solving the ongoing supply issues which could also help get inflation under control.

Copyright 2022 WCTV. All rights reserved.