Los Angeles has become the first U.S. city to see average gas prices surpass $6 per gallon, with prices reaching a new record of $6.08 for a gallon of regular gas last Wednesday. This surge marks a significant milestone, highlighting the growing financial strain on residents.
The average cost of living in the city continues to climb, hitting levels not seen in 40 years. Everyday consumer goods are becoming increasingly expensive, affecting the purchasing power of average Americans and altering daily spending habits.
A CGTN Stringer in Los Angeles visited gas stations and supermarkets to observe the current prices of essential items. The rising costs are not only impacting transportation expenses but are also evident in the price tags of groceries and other necessities.
Residents express concern over the escalating expenses, with many adjusting their budgets and lifestyles to cope with the inflationary pressures. The situation reflects a broader economic challenge, as inflation affects communities across the nation.
Reference(s):
Surging U.S. inflation, how are people living in Los Angeles?
cgtn.com
