CINCINNATI — The rising costs of food, fuel and other essential items are taking a toll on our budgets at home — and relief may not come soon. New data from the U.S. Labor Department shows America is heading into territory not seen for more than 40 years.

What You Need To Know

  • The Consumer-Price Index for March 2022 was 8.5% higher compared to March 2021 

  • That’s the biggest year-over-year increase since December 1981

  • Shoppers at a local Cincinnati grocery store shared their concerns with rising costs

  • A UC Professor of Economics shared her thoughts on how to weather the storm, and when we can expect it to lessen 
​​Moving through grocery store aisles, shoppers are adjusting their budgets amid the rising price of inflation.

Karenna Miller is a long-time Cincinnati resident who enjoys shopping at the Clifton Market, compared to bigger stores. But she’s noticed prices everywhere are going up. 

“It is surprising,” Miller said. “At first I thought it was just me, but then I realized it was across the board.” 

She’s mindful of what she buys being thrifty, but said now it's all about balance. 

“I cook a lot,” Miller said. “Since the pandemic, I have been doing so much more cooking. You would not believe how much time and money it saves.” 

Fifth-year University of Cincinnati student Lily Zipes said she’s usually super busy. Cooking doesn’t always work, so eating out is cheaper for her. 

“Grocery shopping and food these days, I tend to eat more fast food than grocery shop and make my own meals,” Zipes said. 

She said she rarely has to think too hard about budgeting, but that may soon change. 

The Labor Department reports the consumer price index jumped 8.5% between March 2022 to March 2021 — the biggest year-over-year increase since December 1981. 

University of Cincinnati Assistant Professor of Economics Asawari Deshmukh said there are many factors causing these price hikes. 

“Very, very high level of supply chain issues, which in the long-term it's not a permanent problem — you can fix it,” Deshmukh said. “Given enough time things will adjust.” 

Deshmukh hopes some prices will settle but knows things will never go back to pre-pandemic levels. So, her best advice is for families to buckle down with their budgets.

“Just stay moderate, and as you rightly suggested, weather the storm of high prices,” Deshmukh said. "We hope that most of these price changes, or price hikes, which are caused by supply chain issues, or just the logistics parts of it are sorted out really soon and we get some relief there.” 

Shoppers certainly face an unpredictable future, but Miller said it’s all about staying positive.

“It’s like I don’t nickel and dime it,” Miller said. “I accept that we’re in strange times right now. If people haven’t caught up with that yet, it’s time.” 

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