- Inflation has risen .3% in the last month.
- Gas prices in Georgia is predicted to go up to by $.14 by Thursday.
- Watch the video to hear from neighbors struggling with the rising cost of living.
BROADCAST TRANSCRIPT
Average gas prices in Georgia are predicted to rise by $.14 by Thursday.
That price jump, as well as the rising cost of food and housing, are leaving fixed-income Valdostans frustrated.
“There's other countries that take care of their people. They need to do more for us.”
I’m Malia Thomas, your neighborhood reporter in Valdosta, and I’m touching base with neighbors who say they’re being priced of their livelihoods.
This is Desiree Lovins. She's lived in Valdosta for eight years.
I met her while she was seeking assistance from the South Georgia Partnership to end Homelessness.
She tells me that she was once in an apartment, but she was priced out and now seeks shelter in a tent.
"I know you get a cost off living raise, but with the prices going up, you still in the same mess."
It also forced her out of a vehicle; she's seen gas go from less than a dollar in her youth to it being almost $4 a gallon.
"I was born in 1954, so in the 60s, gasoline was really cheap... about $.25 a gallon."
While Desiree is on the extreme end, many Valdostans are feeling the sting of inflation and rising costs.
Inflation has risen slightly to 3.5% compared to 3.2% last month, and some of the higher prices we're seeing are:
Gas (Jan. 2023: $2.72- Now: $3.37)
Food (Jan. 2023: $308.75- Now: $880)
Rent: (Jan. 2023: $833- Now: $1,100)
"The reason we don't want to deflate is because it would stall economic growth, and when the economy doesn't grow, we start talking about unemployment, losing jobs."
This is Dr. Ellis Heath, economist and professor at Valdosta State.
He tells me inflation is necessary for a healthy economy, but neighbors who are looking to save should...
"The best thing to do is get educated on financial awareness and then how much can you put into savings or investment to earn interest so that you can outpace inflation."
Unfortunately, neighbors like Desiree don't have much to work with.
"I can just pay my phone bill and get some food, because I'm not on food stamps. They cut me off."
Some good news: inflation is predicted to stabilize in the coming months. I’m Malia Thomas, in Valdosta, reporting for ABC27.
