Inflation Continues to Hit Washington State Residents

J.R. Heimbigner
Photo by Markus Spiske on Unsplash

As inflation continues to soar across the country, Washingtonians are paying more for almost everything, with the impact being more evident in Western regions. Everything was on the rise in April for inflation across the board.

According to The Associated Press, inflation has been slowly growing for months due to various factors. These factors include a bottlenecked supply chain and increased consumer demand and volatility in global food and energy markets exacerbated by Russia's war in Ukraine.

3 Key Areas Washington Is Getting Hit With Inflation

When we look at inflation in the state, we find that everyone is getting battered with inflation in three main places. Not just in major cities but in rural areas as well.

Gas Prices

According to AAA, nearly every state in the US has a petrol price above $4 a gallon, with Washington practically leading the pack after surpassing the $5 a gallon mark on Monday. These prices continue to go up around the state too.

Cost of Food

According to the U.S. Bureau of Labor, food prices increased by 11.4 percent year over year. Food prices at home have risen 13.4% year over year, owing to rising costs for meats, poultry, fish, and eggs (21.5 percent). Food prices outside of the home increased by 8.5 percent.

Housing Costs

As city home prices rise, what's happening in some of Eastern Washington's rural counties is as dramatic: Washington's most affordable real estate markets are swiftly becoming a lot less cheap. While cities are seeing huge jumps, so are the smaller towns of the state.

Inflation isn't Going to Let Up Anytime Soon

With ongoing supply chain issues, the Russian/Ukraine War, and summertime hitting, we will continue to see high inflation through the summer. These jumps in costs will slow down travel potentially for some and create hardship for others.

If we are lucky, fall will hit, and prices will come back down without going into recession. However, everything seems to be primed for the United States to go into recession this year. According to the Washington Post, the warning signs are there for recession.

What do you think? Do you think prices will go down this summer or fall? Share in the comments below. And if you think this could be important for your friends, share this article too!

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