California residents react to new inflation numbers
(NBC, KYMA) - New inflation numbers released Tuesday are offering a snapshot of the pressures facing families.
The latest Consumer Price Index shows prices continuing to rise in key categories like food and gas.
From the grocery aisles to the gas pump, many families are feeling the weight of higher prices.
"When is it going to stop? Some people are even going bankrupt," said Jose Ramirez, a shopper.
New numbers show inflation rose to 3.8% in April, up from 3.3% in March, the largest increase in three years, and the areas hit the hardest are those families feel the most are food and fuel.
"We have only this car, but we're a five-member family, you know? We have three kids, so life is hard. And, you know, with the gas prices, and then he works, so every day, sometimes faraway places," said Yennifer Morales, a driver.
For shoppers trying to stretch their paychecks, even routine grocery runs are becoming hard to manage.
"My wife literally comes and its like $350-$400," Ramirez shared.
NBC affiliate KNBC wanted to see what inflation looks like up close, so they took $40 inside a small family-owned market, Carniceria Monarca, in Montebello to see how far it would go.
Picking up only the essentials, the total was $37.67, and KNBC were able to get milk, eggs, rice, meat, tomatoes, tortillas, oil.
"My business very slow because the prices are too expensive, and I can't afford to give cheaper prices," said Ana Diaz, co-owner of Monarca Carniceria.
Diaz says her business has also taken a hit, with people buying less, especially meat.
"Some people coming in and before would buy six-seven pounds and now two pounds," Diaz explained.
As for the future, economists warn as long as Strait of Hormuz remains closed due to war in Iran, prices will continue rising.
"If the Strait of Hormuz reopens, energy prices will come down, but there will be a time lapse because it takes [four-to-six] weeks before oil reaches its destination then prices will come down," said Carsten Lange, economist for Cal Poly Pomona.
So for now, families are left with no option but to hold on.
"We just have to bite down and take this hit," Ramirez expressed.
