Local News


40-year high inflation pushes Las Vegas families close to their breaking point

40-year high inflation pushes Las Vegas families close to their breaking point
Posted at 6:43 PM, Jul 13, 2022
and last updated 2022-07-13 22:08:15-04

LAS VEGAS (KTNV) — A sobering new report on inflation showed prices were more than 9% higher in June compared to a year ago. This is worse than expected and the largest yearly increase in over 40 years.

With this spike in inflation, many families say they are struggling to make ends meet. The vast majority of them say the biggest price increase has been in gas and food.

Breonna Golden, a mother of three says her costs have nearly doubled.

"Buying food and just getting necessities is just very difficult because everything is just so overpriced," Golden said.

Golden is a hard-working mother doing what she can alongside her husband to provide for their three kids. During a time when even the middle class is barely staying afloat.

"Each adult is having to work two jobs just to maintain, not only am I being taken away from kids, but when I do have time for them, I’m exhausted because I work to the bone just to get their necessities," said Golden.

Jim channel says higher prices make it harder to live.

"Food products, in general, seems like it has gone up 40 or 50 percent," said Channel.

The Nevada State Apartment Association shows the average cost of rent in the valley is nearly $1,500, that's up almost $200 from last year.

AAA says the average cost of gas in Las Vegas is $5.26, which is higher than the national average of $4.66.

Gas prices aren't Gulden’s only concern with school around the corner, she says supplies for her children have almost tripled in cost. She says they are making serious changes to their spending.

"We don't go out to eat at all,” says Golden.

We reached out to the Three-Square Food Bank, as part of their effort to assist families dealing with food insecurity, they will be providing food distribution locations throughout the entire valley daily.

Click here to find a location near you.