COLUMBIA, S.C. — Have you noticed how high prices are in the supermarket right now? It's because inflation rates are at historically high levels.
Shoppers say they are noticing the price hike.
“It's like 1.50 to $2 increase in the breakfast sausage,” shopper Karl Bouie said.
“Prices jumped pretty radically, everything from the meat, to the pre-packaged food,” said shopper Steve Allen. "A normal steak might have cost $8, and now its $12. If you want to get two, its like $22 to $25.”
Shopper Donna Hunter says she's never before spent, "$37 for two salads, dressing and chicken.”
According to Carl Blackstone with the Columbia Chamber of Commerce, the cause is the nation’s current inflation rate, which he says is currently sitting at 7.2%.
Blackstone says rates are three times higher than average, something the country hasn’t seen in more than 40 years.
“On average, what the federal reserve would like to see inflation at is around 2%," Blackstone said. "The ripple effect is being felt throughout the economy right now.”
It's rippling through all business sectors, and the hospitality industry is hit the hardest.
Ryan Dukes with Blue Marlin agrees with the shoppers we spoke with. He says meat and seafood prices are through the roof.
“It's been 6% up to 20% on certain items,” Dukes said. “Crab meat doubled in price.”
We asked shoppers if they had any advice.
“Plan a list before you come. Don't just come in here and start buying," Steve Allen said. "You will blow a lot more money that way.”
“I pay attention to the sales, and I try to gear my shopping towards those sales,” Karl Bouie said.
The Columbia Chamber of Commerce says prices could remain high for the next nine months before we start to see any relief.