It was clear this past election that many families are frustrated with inflation and the cost of living. NBC 7 Responds has always looked for ways to alleviate the squeeze on our budgets, and now we’re taking it to the next level.
We’re kicking off The Price You Pay, a project that will track the cost of just about everything that matters to you as a consumer. Along the way, we’ll give you the tools and information you need to have a better grip on how you manage your budget.
We traveled all over San Diego County to find out what’s troubling consumers the most.
“I feel like I’m being held hostage because I can’t shop around for home insurance anymore,” said Julian homeowner Lori Palmer.
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“Gas is insane, and groceries are equally as expensive,” said Chula Vista resident Jasmine Adams.
“I used to pay $60 for water, and just right now it cost me $101 for my apartment,” Clairemont resident Carlota Alvardo told NBC 7 Responds.
“When is it going to stop?” asked Joel Kreps from Carlsbad.
NBC 7 Responds
The big, bad bully, according to most, is housing.
“Confined to an apartment is not really what I had in mind raising a child, so a home would be nice,” said new dad Kevin Peccorini.
“I live out of my 2023 Toyota 4Runner with my dog,” Brian Ruiz told us.
“I live with my parents because I’m here [at work] most of the time,” El Cajon business owner Waseem Iskanderian said. “I just go home to sleep.”
Marcos Figueroa saves money by living in Tijuana.
“Out here, what I would spend for an apartment with a small bedroom, I’ll get a house over there,” Figueroa said.
So, housing, food, gas and clothing will be some of the items NBC 7 Responds will consistently track as we check inflation numbers every month.
In November, for example, we saw a national increase in eggs and milk. Nationally, the cost of apparel decreased, but it went up in San Diego.
As of Dec. 20, the average price of a gallon of gas in San Diego County was $4.45. That’s 8 cents less than last month and 30 cents down from last year.
The average November rent in San Diego stayed pretty much the same compared with October, according to Zillow, but it was almost $76 less than last year.
“The people that are feeling the biggest pinch from inflation are the ones that are most hyperaware of prices,” said SDSU associate professor of economics Hisham Foad, Ph.D.
We’ll be relying on economy experts like Foad to help explain what’s behind any significant changes in prices.
“There might be something that goes up a lot in price, but we don’t spend that much on it,” Foad explained. “It’s not a big part of our consumption basket, so that’s not going to have as a big contribution as something like housing, where we spend a lot on housing.”
Foad said November was a good month for consumers overall.
“Nationally, inflation was a little bit under 3%, and average wages, which isn’t for everybody, but average wages were up just under 4%, so we did see an increase in purchasing power,” Foad said.
However, Foad warned, that the fluctuations that occur during a single month should not define how you manage your money. It’s all about the details.
“I think there's a lot of value in having, you know, a breakdown,” Foad said. “ 'Hey, this is what this means, this is why it may affect you. This is why it might not affect you.' Let's go deeper into the details.”
NBC 7 Responds will also be watching for any tariffs President-elect Donald Trump and his administration may place on imported goods. We’ll explain how it might affect your budget so you can plan accordingly.
