Consumers frustrated as inflation hits highest rate in nearly 40 years
Price hikes are hitting nearly all aspects of life as the pandemic rages on.
Prices paid by consumers jumped 7% in December compared to a year ago, marking the highest inflation rate since 1982.
"I really hope that the prices are going to come down," says Babylon resident Georgia Binns.
Supply chain issues and higher consumer demands are hurting shoppers looking for everyday items like milk, eggs, bread, produce and cheese.
One shopper told News 12 that he was spending $2 for frozen fruit a few years ago and now is paying around $5.
Some say the price increases are making them change their spending habits while others say they're stuck paying more.
"It's really hard because we have busy lives, and so sometimes you have to suck it up and pay the money because you only have time to get to the one store," Binns says.
Hofstra University associate economics professor Martin Melkonian says it could take several months before the supply chains get reintegrated and shortages begin to disappear.