In February, the annual inflation rate in the United States hit 7.9%, the highest rate since January 1982.
The surge has been attributed to the 2021 global supply chain crisis caused by the COVID-19 pandemic and unforeseen demands for certain goods.
Naturally, the rise in costs of goods and the price of gas has led to people cutting back on or eliminating things from their spending budget.
Here’s how two of your neighbors have been affected by inflation:
“I’d say our number-one cutback from last year to this year has been making cold brew at home,” said Will Poole, who lives in Ventana Ranch West and has a great beard. “We spent over $1,800 on coffee in 2020 and have cut it to under $500. We love iced coffee, so we bought a pitcher that makes it and we always have it ready to drink at home. We also recently invested in an ice cream maker and no longer indulge in the store-bought stuff. We have a lot of indulgences, so we’re trying to be better about it. We’re inviting friends over a lot more these days instead of going out. We’re looking for free things to do with our kids on the weekends like geocaching and hiking. There’s only so much you can save from week to week, but we’re doing what we can, when we can.”
Pamela Lace, from The Trails, said she has cut back on driving to save some money.
“I have stopped making multiple trips out to do things,” Lace said. “I save up all my errands and stops for one day a week.”