US inflation: Overheated economy fueling massive price hikes ahead of the holidays for consumers

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RIVERSIDE, Calif. (KABC) — The post-pandemic economic recovery is causing some unwanted side effects.

Inflation is causing sticker shock at the cash register for many consumers, which has some shoppers cutting back on their weekly trip to the grocery store.

“I’m noticing everything from meat to paper goods are extremely high – 30% to 40% higher,” said Riverside resident Lois Randolph.

Food prices are skyrocketing as the cost for meat, poultry, fish and eggs are up almost 12% since last year. The price for steaks is up a whopping 24% alone.

“Before, I would come to the store and it was for this amount like $70, now its $160,” said Leticia Barbosa of San Bernardino. “So, definitely everything is going up. “I look at those prices and I am like, ‘We will stick to chicken and fish.'”

Across the board, the prices for goods are up in every sector of the economy, including gas prices. The U.S. Department of Labor released new data this week showing consumer prices…

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