Consumer News: Inflation driving many prices up, how this could affect your Super Bowl party and more
Consumer News with ABC Columbia is brought to you by Grow Financial.
ABC NEWS– Inflation has followed us into 2022. From housing, to furniture, used cars and medical costs, prices increased across the board. Even without factoring food and energy, which tend to be more volatile, prices still rose by more than 7%. ABC’s Rebecca Jarvis tells us how the Bureau of Labor Statistics latest report showed another four decade high in January.
CNN– If you’re planning a Super Bowl party, you can also pay to open up your wallet a lot more. According to Wells Fargo, expect to pay 14% more than last year. Of course, it all depends what you get. Meat is one of the biggest offenders, with ground beef prices up 13%. You can always keep costs down by grilling hot dogs because those costs actually fell over the past year. Try to steer clear of soft drinks though, soda prices are up nearly 12%.
CNN– On top of grocery prices and nearly everything else we’re buying costing us more, oil is still on that list. JP Morgan predicts oil prices could soar to $120 a barrel if the conflict between Ukraine and Russia doesn’t resolve soon. That high of a spike would then drive up prices at the pump, which hit a fresh seven-year high on Wednesday. The national average for gas tonight hit $3.50 cents per gallon, but that could soon rise above $4.
