When it comes to groceries, consumers are paying roughly 12% more for essential items and many organizations in the Houston area are receiving a high number of calls from people who need help with paying their bills.
Every day prices continue to increase and it’s making it tough for many families. In Houston, the average price for gas is $4.43. The increase is causing drivers to think of creative ways to save at the pump.
The average household is spending nearly $500 more a month on the same essential items compared to last year. “As consumers, inflation is robbing us the value our dollar. It has less value at the store when we are buying whatever it is we need each day. We are not talking about luxury items, we are talking about everybody buying the staples that they need those prices are going up,” Janet Parr, a professor at Houston Community College, said.The consumer price index is up to 9.1%. That’s a 1.3% increase from May.
Dr. Juan Crawford with Houston Community College says the average rent for a single-family home is up 22%. “From a housing standpoint we have seen a stop to it being a sellers’ market, sellers’ market, seller’s market it’s kind of evening out we are also seeing people put up a house for $200,000 and you get 7 bids above $250,000,” Dr. Crawford said.
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