Inflation Is Forcing Floridians To Make Hard Choices

Matt Lillywhite

Rising prices in Florida are making it difficult for people who live paycheck to paycheck to afford the necessities of life. For example, the overall cost of housing in Miami-Fort Lauderdale-West Palm Beach rose 10.5% from April 2021 to April 2022, per the U.S. Bureau of Labor Statistics. In the same timeframe, gasoline saw a 44.2% increase.

Here's a graph that shows the overall CPI change since April 2019:

It's no secret that many Floridian families are being forced to make difficult financial decisions to combat the rising cost of living. "It's a really tricky game to figure out what can I do, what can I not do, and how can I squeeze a little more money here and there," said Elisabeth Mendes Saigg during an interview with CNN.

Sadly, some parents are skipping meals so their children can eat dinner. Others are going into debt and applying for payday loans - which often have exorbitant interest rates. Quoting an article published by Investopedia:

"Payday loans charge borrowers high levels of interest and do not require any collateral, making them a type of unsecured personal loan. These loans may be considered predatory lending, as they have extremely high interest, don't consider a borrower's ability to repay, and have hidden provisions that charge borrowers added fees.1 As a result, they can create a debt trap for consumers."

To save money on groceries during high periods of inflation, CNBC recommends carefully planning your meals to ensure you're not buying anything that won't get eaten. It's also a good idea to buy generic brands when possible (as they're often cheaper). "If you don't have a preference, it'll be an easy switch, but if you do, consider trying a few generics at a time to see if there are any you won't mind switching to."

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

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