LEMOYNE, Pa. — Inflation has risen 7.5% for the month of January over the previous year, according to the U.S. Bureau of Labor Statistics, and this fact is affecting businesses and shoppers alike.
Inflation is rising for a number of factors, one food executive tells FOX43.
"We are seeing lower capacity of production in our manufacturing within both from a goods standpoint as well as team members who actually produce the goods," Andrea Karns, vice president of sales and marketing at Karns Foods, said.
Karns advises shoppers to make a list of what they need instead of what they want. Shop the weekly ad for the best ideals, and be flexible with your purchases to help stretch the dollar a little further. Lately, it's been difficult to find the particulars, she says.
"When you take a look at the dark meat, the chicken leg quarters, the bone-in chicken thighs, those are relatively low impact when it comes to inflation but when you're looking at chicken legs, chicken wings, you are seeing a higher increase there," Karns said.
The personal finance website "The Balance," has tips in other areas to help consumers save money in this time.
"The Balance," says you should have a budget, use it, and give yourself some limits for the purchases you don't really need at that moment. The key thing to do is figure out a net income fixated just for your finances, then whatever is leftover can be for leisure. From doing this, month after month you'll get a general idea of how much you can spend.
As people try to grapple with the current fluctuations of the economy, Karns says she believes better days are ahead.
"We are looking at the anticipated full capacity and for a lot of those manufacturers they're saying that will be summer 2022," she said. "At that point in time, that will be a huge asset, a huge win for all of us as consumers, and as a business, that's just a plus all around."