From gas to groceries and everything on the shelves, prices in San Diego are up. And shoppers feel it. Chris Chan reports.
From gas to groceries and everything on the shelves, prices in San Diego are up -- and shoppers feel it.
The reason for rising prices is the high cost of oil. A weak U.S. dollar and thriving economies in China and India are driving up oil prices, making it more expensive to grow, make and deliver everything we buy.
And that's wreaking havoc on people’s checkbooks.
“Try not to go out of your house as much because you won't spend as much which will keep hurting our economy,” said Galen Rowe, a Linda Vista Resident.
With some experts predicting gasoline to jump to $5 a gallon this year, economists say the cost of everything will continue to rise.
Some people have already downsized their vehicles.
San Diego resident Jason Morrison said he used to have a truck, but opted for a smaller vehicle – saving him nearly $400 a month on fuel.
People who have already been saving as much as possible are left wondering what to do.
“It's hard to stick to a budget with a family of five, especially with groceries and things like that,” said San Diego resident Autumn Decesari. “I don't know what I could do to save more really.”