BAKERSFIELD, Calif. (KGET) — Inflation grew by 1% last month and now sits at 8.6% over the last year. That’s the highest rate of inflation since 1981. High prices for groceries and gasoline continue to drive those numbers. The main reason for the rising gas prices in the U.S. is the rising cost of oil. Crude oil has climbed from about $87 per barrel to more than $122 in the past three months alone. Analysts don’t see conditions changing any time soon, so they are warning it may be some time before we see any relief.
We wanted to know: Have inflation and rising gas prices impacted your summer travel plans?
Eighty-three percent of respondents said rising costs have affected summer plans.
Of course, it’s hard to save now for a summer get away if my extra cash is going to gas, basic necessities, and groceries.Katherine M. Jones, Facebook user
Yes, being on a limited income I stay home a lot. Would like a trip to Morro Bay but not now.Troy Jackson Woodcarver