Although inflation has decreased significantly across the country, according to new Pew Research data, the prices we pay for food and everyday living are still astronomically high — especially in San Diego.
America's Finest City is in the top 10 places where consumer prices have risen the most.
"It's expensive here. It's really expensive, you know, food prices and housing prices," said Gina Sinner as she finished her shopping at Walmart.
But just how pricey? About 24% more than it was during pre-Covid times, according to Pew Research.
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"That means that if your income has an increase by 25%, then there is that net negative for you personally," said Ryan Hughes with San Diego-based financial advising and planning firm Bull Oak Capital.
Hughes also said even though inflation numbers are down from 9% to 2.5% across the country, it isn’t felt day to day.
“That doesn't necessarily mean that prices have fallen at all," Hughes said. "It only means that the rate at which those prices are rising has come down."
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Caleb Brayton is originally from Michigan and experiences sticker shock regularly.
“I went to buy Christmas dinner. It cost me a buck fifty more than it would back home," Brayton said. "It’s crazy. I saw a turkey for $83. That is absurd."
Hughes expects these prices for groceries and goods to stick around for now.
“My husband and I are retired, so we feel like we are in a pretty good spot, but we feel bad for young people that have to work multiple jobs to feed their families,” Sinner said.
Pew Research also says 74% of Americans report they are very concerned about the price of food and consumer goods.
“I would say if you're looking to try to protect yourself, make sure that you are asking for those pay raises or you're trying to get those wage increases somehow,” Hughes said.
Pew Research dug into government data of prices of products and services for 23 metro areas across the country to identify the most and least expensive.
