Margarine, Wine and Jeans Among Items Hurt By Inflation In WA: Report

Seattle WA

06 June, 2022

4:16 PM

Description

SEATTLE — As most shoppers know by now, gas isn't the only thing that's costing more thanks to the recent, nearly-record breaking spike in inflation. But, as a new report from The Seattle Times explains, gas isn't even seeing the worst of it: margarine and potatoes have actually seen bigger jumps in price. For his report, The Times' Gene Balk analyzed data from the Council for Community and Economic Research, and found that margarine costs were up 46.7 percent year-over-year in quarter one of 2022. A five pound bag of potatoes also costs about 38.6 percent more than it did in Q1 2021. Gas is no slouch, however, up 32.5 percent over the same time period. Mortgage rates, women's slacks, boys bluejeans and vet services are also significantly more costly now, the Times reported. Inflation is a problem nationwide, but it's especially noticeable here in Western Washington. Per the Council for Community and Economic Research's latest cost of living index update, the Seattle Metro remains the 9th most expensive urban area in the country, and the most expensive on the West Coast barring LA, Orange County and San Francisco. AAA, meanwhile, reports that Washington currently has the fifth-highest gas prices in the country, averaging $5.407 per gallon of regular gas. The national average is $4.865 a gallon, as of Monday. There is hope that the tide may be turning. The latest Consumer Price Index from the U.S. Bureau of Labor Statistics found that the west region — which includes the Puget Sound region — saw area prices rice 0.7 percent into April, a smaller increase than the month before and hopefully the start of a downward trend. >> Read the full report from The Seattle Times.