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Residents and businesses grapple with highest consumer costs in 40 years

The increase has impacted food, gas, and other everyday necessities.

ST. LOUIS — Businesses and residents have felt the impact caused by the highest inflation the United States has seen in four decades recently.

Every couple of days, Jaycee Coats takes a couple of blocks to get to Vincent’s Market, his neighborhood grocery store in Soulard.

He explained the big box stores sometimes can burn a hole in his pocket.

"I'm on a fixed income. I'll be 67 years old in February. The prices [at Vincent’s] are good. Anything you want. It's decently priced," Coats added.

Consumer prices rose 7 percent in December marking the highest inflation since 1982, according to the U.S. Bureau of Labor Statistics, and have hiked up everyday necessities like food and fuel.

MORE: US consumer prices soared 7% in past year, most since 1982

"A living has just done gone crazy. It's just too much," Coats continued.

Businesses have grappled with the gruesome growth during a pressuring pandemic and an already tense supply chain.

Guerilla Street Food in Webster Groves, which serves modern Filipino food, is no exception.

"We didn't really do a big increase during the pandemic. I've always tried to have a good value," said Joel Cresto, co-owner.

With the cost of their unique imports rising to as much as 40 percent, Cresto and his business partner put out a message to customers on social media letting them know they had to raise prices to meet the demand.

"We finally decided that if we didn't do something, it could spell catastrophe down the road," Cresto said.

Luckily, people have been supportive of the restaurant's recent price increases.

"People are just like we've always thought you've undercharged anyway," he added.

President Biden addressed inflation in an economy-focused statement from the White House back in November.

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