Deep Dive: Prices are up everywhere! Here’s how much costs are rising on things bought every day

From utilities to cars, food, and even alcohol -- prices are up. In this week's Deep Dive, News 12's Kristie Reeter is taking a deep dive at just how much costs have been rising on things we buy every day.

News 12 Staff

Dec 17, 2021, 10:26 AM

Updated 939 days ago

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From utilities to cars, food, and even alcohol -- prices are up. In this week's Deep Dive, News 12's Kristie Reeter is taking a deep dive at just how much costs have been rising on things we buy every day.
In a poll taken by News 12, we asked, how inflation is impacting your spending? You can see in New Jersey, a majority of people, 47%, said they are limiting any extras.
Caleb Silver with Investopedia talks about where some of the biggest increases are when it comes to inflation.
“Inflation is up around 5% from a year ago. But you are feeling it in the essentials, that's gas prices, up 60.4% from a year ago, used cars and trucks up 31.8%,” says Silver. Fuels and utilities like home heating oil is up 9.5%, and food is up 6.5%.
What kind of impact are we expecting this will have on people's holiday shopping?
"Well we were expecting retail sales to go between 8 and 10% for the holiday season,” says Silver. “Cyber Monday, Black Friday a little softer than we expected and November retail sales also softer than expected, especially in apparel and in electronics and you can see folks pulling back a little bit toward the end of the year."


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