JACKSONVILLE, Fla. – If you’ve been to a gas station or grocery store lately, you’ve likely noticed prices are up. Consumer prices have jumped to their highest levels in nearly 40 years.
If you ask almost anyone how they feel about gas prices, they’ll tell you.
“Way too expensive right now,” Alan Tutwiler said. ”I’m 22. I feel like people that we’re born in the 1970s were paying like a dollar, and I’m paying what $3.34 right now.”
News4JAX found a person paying almost $100 to fill up their tank Friday.
The Bureau of Labor Statistics reported that consumer price inflation rose by 6.8% this year through November. That is the highest level of change since June 1982, and gas prices soared more than 58% in the last year, the largest increase since 1980.
News4JAX political analyst Rick Mullaney listed some of the reasons that have caused this inflation.
“So you have increased spending, you do have problems with the pandemic and the supply chain problems, you got labor shortages, you have the pent-up demand, and you have rising energy prices,” he said.
As for when we can start seeing some relief, Mullaney said, “I really don’t know and I don’t know if anyone really does. Most economists believe you’re going to see continuing inflation going well into 2022.”
Mullaney says one thing is for sure: Inflation prices will be top of mind for politicians from both sides of the aisle ahead of the midterm elections next year.
Click here to read more about the new inflation numbers.