‘You learn to cope’
The Consumer Price Index (CPI) released by the Bureau Of Labor statistics last week reported an annual gain of 7.5%. Representing the fastest annual growth in 40 years. What does this mean for everyday consumers? Simply put, inflation is rising quicker than ever.
Inflation rises slowly over time allowing consumers to adjust to the overall general upward price movement of goods and services. Accelerated trends however, are noticed and felt. Effecting everything from the devaluing of retirement and pension funds to the rising prices at gas pumps and check-out lanes of local supermarkets.
These changes are felt with varying degrees of concern amongst Cullman County residents.
“It’s just life. Prices go up,” said Cindy Larochelle.
Chris Bays has recently begun using his wife’s vehicle for his daily to commute to work in Huntsville.
“It sucks, but you learn to cope with it however you can,” Bays said Monday while pumping gas.
With many small businesses having still recovering from the effects of the COVID-19 pandemic, these rapid rises in inflation are now becoming the number one concern for local business owners.
“It is really cutting the legs out from under small businesses and farmers,” said Chris Chambers of Chambers Farm and Garden on Monday.
Increases in chemicals and fertilizers are causing local farmers to shift their crops to more cost effective solutions, or in some cases not producing at all. Chambers said the long term effects will become more evident in the fall when crops are harvested.
“Just as example, a bottle of chemicals that I sold for $40 a couple of years ago, I’m now having to sell for $120. Local farmers who might supply small businesses or farmers markets aren’t able to keep up with those costs. Which causes vendors to look to larger suppliers with higher costs, which leads to higher prices. It is a problem that just sort of snowballs and gets exponentially worse,” Chambers said.