LIVE VIDEO: 9NEWS Morning News    Watch

Inflation means you will pay more this summer

10:23 PM, Jun 15, 2011   |    comments
  • Share
  • Print
  • - A A A +

The Consumer Price Index that came out Wednesday shows prices climbed 3.7 percent last month compared to the same time a year ago.

The report indicated that inflation is picking up speed.

Believe it or not, the only thing that's probably not going to rise this summer is the price of gas.

Experts say it won't reach the dreaded $4 mark. In fact, it will likely stay what it is right now.

However, when it comes to groceries, Coloradans are paying about 4 percent more this year than they were last year to feed their families.

When it comes to the appliances you use to cook your food, prices are going up as well.

"We are running mean and lean with a core staff and everyone wears a lot of hats," Jennifer Chick-Gray from Home & The Range Appliance in Denver said.

Last month, sales dropped by 25 percent at the store; employees say it's common in April and May.

Clothing stores are also adjusting to the lack of demand. With cotton at a 150-year high, clothing prices are expected to jump by 20 percent by the end of the summer.

Stores like Garbarini in Cherry Creek found a way around it.

"For us, we have already purchased our clothing for the fall in advance, before the price of cotton jumped up," Lin Morrison, a stylist at Garbarini, said.

Vehicle prices are also on the rise. The average price for a new vehicle is hovering around $30,000. That's up $700 since last year.

(KUSA-TV © 2011 Multimedia Holdings Corporation)

Most Watched Videos