(WLAX/WEUX) – One thing Americans may not be giving thanks for around the table this week is the price of nearly everything that’s on it.
Sticker shock is putting a damper on a holiday season where many Americans were hoping to get back to normal. Costs are rising for groceries, gas, and nearly everything in between.
According to the labor department, prices for consumer goods are up more than six percent compared to twelve months ago, due in large part to increased costs to manufacturers. That’s the largest one-year increase in over two decades.
Adding to the problem: a surge of post-pandemic demand, and worldwide delays in production and shipping. Ports and trucking companies have been working around the clock to address the backlog.
Secretary of Transportation’s Pete Buttigieg said, “24/7 ops at Long Beach and L.A. or the sweeper ships that are picking up empty containers that are having an effect.”
And it’s not just your holiday shopping that will cost extra. As temperatures drop, even the price of home heating is expected to rise. The Biden administration announced this week that it plans to use some of the 1.9 trillion dollars in COVID relief passed earlier this year to offset those costs.
Republicans meanwhile blame the white house’s push towards renewable energy.
Wyoming Senator John Barrasso said, “Mark my words, we are going to see this winter in the Boston Harbor, Russian tankers delivering energy to the united states because of the policies of this administration.”
Despite the high prices, a recent Gallup poll found around two-thirds of Americans expect to spend the same amount on Christmas this year as they did in 2020. E-commerce sales are projected to be up ten percent.
And for those who still haven’t bought their Thanksgiving turkey, the good news is there’s no significant shortage, but on average, they cost nearly double what they did just two years ago.
In Los Angeles, Christina Coleman.