NEW YORK, NY (CBS Newspath)- Inflation is following us into 2022 as food, gas and other daily essentials are expected to increase in the first half of the new year.
A study done by research firm, Information Resourses Incorporated (IRI), shows that food prices will see a five percent increase over the first half of 2022. This includes just about everything, from staples to milk, even candy and alcohol might see a price increase. This is due in part to both inflation and on-going supply chain disruptions.
Although gas prices fell slightly over the past month, we should expect to see them rise again in 2022. The national average is currently $3.28 a gallon but is expected to jump to $3.41 next year, according to Gas Buddy. With the projected increase, the small small decline we’ve had over the past month reversed.
President Joe Biden said in late November that a fall in gas prices is coming, but it will take time. Since then, prices have fallen away from seven year highs as they continue to tick lower.
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