Consumer Prices mark the fastest increase since 2008

Local News

ELMIRA, N.Y (WETM)- Consumer prices have had a five percent increase from May 2020 to May 2021. This marks the largest increase since 2008.

The nationwide increase is also present on a local level here in the Twin Tiers. The increase in prices can be seen from gas prices to grocery demand. The owner of Horseheads Jubilee Foods, Dave Marks, spoke on demand and inflation in local grocery stores. “We’re trying to keep prices down in our stores, but [inflation] is real and rising here.” Marks also said the demand is high in particular for certain foods such as meats, but they are doing whatever they can to keep food on the shelves.

President and CEO of Chemung County Chamber of Commerce, Kamala Keeley, talked about how she thinks this is impacting the local economy. “Locally, those [national] inflation trends are something we are seeing here as well. We’re seeing it as an increase in gas prices or certain items at the grocery store. ” Keeley also said it is too early to tell if this is a trend that will continue to rise nationwide or if it is the economy attempting to normalize after the pandemic.

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