BETHLEHEM, Pa. - Inflation is on the rise, both nationally and in our backyard.
And experts say it has hit its highest rate in more than 30 years.
Federal officials reported that October saw the highest spike in inflation the country has seen since 1990.
Economist Ahmed Rahman, associate professor of economics at Lehigh University, said people are already feeling it.
“They are seeing their grocery prices go up. They are seeing the price of gas go up. It basically feels like a tax, so people here in this economy, in Bethlehem, the Lehigh Valley and across the county, are likewise feeling the pinch.” he said.
He said the impact on the economy of the Lehigh Valley could be a snapshot of what happens nationally.
“What happens here, I think, is sort of a bellwether of what happens around the country. I don’t think we will be immune from this, nor are we going to be special. It’s just going to be something that we see in similar regions across the nation.” said Rahman.
Rahman said he believes the spike is tied to staffing shortages and supply chain issues caused by the pandemic.
With no end in sight, he said inflation could be the biggest issue in next year’s elections.
