HOMEWOOD, Ala. (WIAT) – A small glimmer of hope for Americans struggling with rising prices as the rate of increase in inflation has slowed slightly. But, we are still feeling the impact of those higher prices on certain products across our region.
Families in Homewood are having to make some tougher decisions when it comes to making a trip to these businesses on Oxmoor Road.
“We don’t come out as much as we used to for sure,” Nick Wells said.
He and his family were out Friday night on what used to be a weekly trip for ice cream with his daughter.
“How do you say no to this? When you want ice cream you have to get it,” Wells said. “It’s hot.”
It is a no they have been having to say a little more to little Victoria.
The Hill reporting big bumps in certain items – like the price of eggs. That is over 10 percent from March to April – now 22.6 percent higher than this time last year.
“I was at the store this week,” Ashley Wells said. “You could get a dozen of eggs for $1.99 and now it’s almost $5 which is insane.”
It’s not just that trip to the grocery store. The housing market still has a lot of buyers and a shortage of inventory.
“You’re seeing a property hit the market and it’s going for 20 and 30,000 over the list price,” Real Estate Salesperson Frances Knox said.
According to Knox, the biggest change in the past month housing-market related is a decrease in values of 401Ks, so buyers may not be as willing to pay appraisal gaps.
“We’re still anticipating a fairly healthy market moving forward mainly because of the shortage of inventory that we are still experiencing,” Knox said.
But at some point, cutbacks and choices are going to be more for the Wells’.
“I think at some point we have to decide on the weekend do we want to go out or not? Because everything’s pricey,” Nick said.
The Hill is reporting big increases in chicken, butter and margarine – but something that’s seen a decrease, apparel.