Current Events and The Cost Of Living

For the ninth consecutive month, cost of living has been on the rise. New reports now show that the cost of living has once again risen by approximately 0.5% in March. While unemployment continues to drop and more people are starting to find jobs, it is still difficult for them to keep up with the increasing costs. Due to the rise in the cost of fuel, several industries are suffering and in an effort to continue making a profit, many of these industries have no choice but to pass on the higher costs, onto their customers. Fuel cost has contributed towards increasing cost of manufacturing, transportation and, operations. As a result, even food companies have started to suffer and a few months ago it was reported that food prices were at an all time high. This still continues and based on the current consumer index, cost of food has gone up once again. This will certainly hurt the economy and slow down the progress even further. While Americans are able to make a living, it seems that they are not making enough to support themselves, as they used to. A large portion of their income is now being consumed by higher cost of food.

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