Cost Of Living Rising After Inflation, Uptick In Consumer Price Index

The consumer price index rose four tenths of a percent in September, 5.4 percent higher than what it was last year according to the U.S. Labor Department.

Cost Of Living Rising After Inflation, Uptick In Consumer Price Index

LOS ANGELES (CBSLA) – Anyone who has been to the store or done some online shopping recently knows inflation is taking a toll.

The consumer price index rose four tenths of a percent in September, 5.4 percent higher than what it was last year according to the U.S. Labor Department. As a result, social security recipients will get the biggest increase in 40 years.

But as the economy recovers from the domino effect caused by the pandemic, the price for daily essentials continues to climb. Supply chain issues and shortages are contributing to that rise.

According to the U.S. Bureau of Labor Statistics, in just the last year, food prices have gone up by 3.7 percent, energy is up by 25 percent and electricity bills rose by 5.2 percent, the largest 12-month increase since March 2014.

As a result, consumers are feeling the weight of inflation directly in their wallets.

“I always tell people spend some time reviewing your finances,” budgeting expert Andrea Woroch said. “You can’t really make a change until you take a look at where your money is going in the first place.”

Woroch tells CBS2 and KCAL 9 Reporter Jake Reiner that with the uncertainty of the economy, it’s more critical than ever for people to review receipts, and bank statements.

In addition, changing up daily routines like doing meal planning, shopping for used and refurbished electronics and constantly looking for cheaper insurance prices can save some extra money.

“Last year I noticed the price went up on my home owner’s insurance policy so I did a quick search and was able to switch, get better coverage and save over $1,000 on my annual premium – now that’s real money a lot of people can do with that thousand dollars,” Woroch said.

Inflation is also forcing people to make changes to their weekly routines, lifestyle.

“Just gotta sacrifice some things to pay for necessities really – it’s usually the fun stuff you have to sacrifice,” Jamie Boulanger said.

Source : CBS Los Angeles More   

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Protestors Call For Change Following Huntington Beach Oil Spill

Protestors opposed to offshore drilling met outside of Rep. Michelle Steel's offices yesterday in response to the massive oil spill off the coast of California.

Protestors Call For Change Following Huntington Beach Oil Spill

HUNTINGTON BEACH (CBSLA) – Almost two weeks after the underwater pipeline leak, which caused a massive oil spill along the coast of California, local residents are still suffering from the after-effects. Beaches reopened this week for the first time since the spill occurred on October 2.

Members of various groups that oppose both the continued offshore drilling and the passage of infrastructure bills that are currently being debated in Congress met outside of Rep. Michelle Steel’s offices Tuesday morning.

Many of the protestors held signs in support of the Build Back Better Act, which aims to provide funding for a wide range of areas including but not limited to the National Forest System, education, weatherization projects, wildfire prevention and climate change research.

Protestors claim that Rep. Steel has a history of voting against the infrastructure bills and has collected money from offshore oil companies in the past.

Rep. Steel and her office released a statement in response:

She is focused on practical solutions that will have an immediate impact on safety. She supports and continues championing efforts to protect our coastline.

Most recently Rep. Steel has introduced legislation that would ban cargo ships from anchoring within 24 nautical miles (or about 27 miles) off the Orange County coast.

Cities have taken initiative after the spill, offering free decontamination stations for oil-covered boats, with some volunteers joining the clean up effort. On the other hand, some local small businesses have resorted to opening lawsuits against Amply Energy, the owner of the pipeline, claiming that their businesses have taken a major hit in the time since the leak was made apparent to the public.

Source : CBS Los Angeles More   

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