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Inflation rates are impacting the holiday shopping experience

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Inflation is impacting holiday shopping

WEST TERRE HAUTE, Ind. (WTHI) - As the holiday shopping season picks up, more people are looking for big deals! However, this year those deals may not be as good as prior years, and local residents are already starting to notice.

"Shop on the days with super good deals so you can get your money's worth," Lillie Gendel, a freshman at Saint Mary-of-the-Woods College, said.

Like most college students, Gendel is looking to save money this holiday season, especially on days like Cyber Monday. But these holiday deals might not have you saving that much extra money this year. That's because of inflation, something that economists say is a result of two nationwide issues.

"I think so much of inflation right now seems to be tied to both the labor market shortages, as well as the supply chain issues," Andrew Butters from the Kelley School of Business said.

Economists say inflation is now at the highest level the nation has seen in 30 years, something that makes holiday shopping for people like Gendel much more stressful.

"I'm definitely looking to buy more warm winter clothes because coming from Califonia, I didn't have any of those," she said. "I don't really know the normal prices of winter jackets and such, but they're pretty expensive."

But these rising inflation rates will hopefully not be a long-term issue. Economists say the rates should stabilize by the end of 2022.

But for now, Gendel isn't letting this stop her from having a successful holiday shopping season. She says she is going to be creative and do other things to save extra money.

"At home, I do thrift shopping, and such so I will probably do that when I go back for the holidays," Gendel said.

If you missed out on Black Friday or Cyber Monday deals, there are more savings coming your way. The next best day to get some last-minute holiday deals is Super Saturday or the Saturday before Christmas.

 

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