CORPUS CHRISTI, Texas — According to a new report from salary finance, more than three quarters of Americans said inflation is hitting their wallets.
Economists said it's causing many households to stretch their dollar even further because of the increase in prices of everyday items like food and gas.
About 20 percent of people said they often run out of money between paychecks. Texas A&M University-Corpus Christi economics professor Dr. Jim Lee said we're experiencing seven percent inflation in Corpus Christi.
That’s not just prices alone, but the cost of living and lower income families are suffering the most. Right now, he said, inflation is the highest it’s been in 40 years.
"An average American family spends 5,000 dollars a month. Putting it in that perspective that's nearly an eight percent increase in the cost of living," he said.
Lee said the cost of food and groceries are increasing. It’s up almost eight percent in the Coastal Bend and that’s something shoppers are noticing.
At Fruit King Produce in Corpus Christi, one shopper said he bought milk from H-E-B days ago for $2.35, and now it has risen to $4.35.
A U.S. Department of Agriculture report forecasts a big jump in prices of poultry, dairy items and eggs.
To make your money go further, consumer reports advise to take full advantage of any promotions and coupons and stock up your freezer and pantry.
Lee said people should also keep an eye on store brand products that are less likely to increase in prices compared to national brands.
For more tips to save money as consumer prices keep rising, click here.
