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When will Las Vegas locals see some relief in gas and food prices?

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CORRECTION Inflation Gas Prices
Posted at 7:12 AM, May 12, 2022
and last updated 2022-05-12 10:13:43-04

LAS VEGAS (KTNV) — If you have to fill up your tank again, you may notice that gas prices are once again nearing record-breaking territory.

Nationally, the average price for a gallon of gas is just around $4.30 cents, that’s pennies shy of the all-time record.

Gas prices in Clark County are averaging $5.13.

It’s not just the cost of fuel being felt in people’s pockets, a new report shows while inflation has dipped slightly, it remains near a four-decade high and people are paying more for just about everything.

“It's a killer, it really is. Everything is more expensive, groceries, everything,” said Jeanie, a Las Vegas woman who says she’s been hit hard by the rise in prices.

Data released by The U.S. Bureau of Labor Statistics measures the change in prices paid by consumers for goods and services. The chart shows groceries are up nearly 11%, airline tickets are up by more than 30%, and gas topped the list at a nearly 45% increase.

“I try to only fill up every two weeks because I only get paid on the 3rd Wednesday of each month. It’s sad. I mean it feels like it takes our incomes just to pay rent now,” Jeanie said.

Economists believe there is still a long way to go before inflation returns to more acceptable levels.

Gas prices are expected to keep rising because demand is going up as we approach the Memorial Day travel holiday.

Oil prices have also risen as Europe has indicated it wants to sanction Russian oil because of its invasion of Ukraine.