Get Ready For More Price Hikes In Texas

Matt Lillywhite

It's no secret that high inflation is hurting families in Texas. But sadly, high prices in the Lone Star State aren't expected to go down anytime soon. According to Fox Business, prices rose faster than expected in April, indicating that inflation will remain high for a while.

Here's a graph that shows how quickly inflation in the United States has risen:

Despite inflation somewhat slowing down, some businesses are warning of price hikes due to supply various chain issues. For example, the CEO of Unilever, a multinational consumer goods company, recently said more price hikes are needed to combat rising costs. "While we're acutely aware of the pressure on consumers, we believe that increasing prices in response to this extreme commodity cost pressure is the right thing to do."

That statement by the CEO is important because Unilever owns many household brands such as Axe, Vaseline, and Ben & Jerry's. So, Texans should brace for even more price hikes over the coming months.

It's worth mentioning that inflation is impacting Texan retirees especially hard, according to NBC Dallas Fort-Worth. "They are being hit significantly because seniors are on a fixed income," said Steve Benton from The Senior Source, a nonprofit in Dallas. "The inflation of housing, food, energy – energy being utilities and gasoline – all of them are skyrocketing, and that's 75% of a typical senior's budget."

In Houston, inflation is also hurting Texan families. The average price of a gallon of gas in Houston has risen above $4 for the first time in history, per Fox News. It's also worth mentioning that more people are showing up to local food banks due to the rising cost of living.

What do you think about inflation in Texas? Leave a comment with your thoughts. And if you think more people should read this article, share it on social media.

Comments / 1

Published by

Bringing you important news about the economy and other local stories.

N/A
66165 followers

More from Matt Lillywhite

Comments / 0