Inflation at a 14 year high: What’s being done to fight it?

ORLANDO, Fla. — Prices for just about everything are going up. From food to gas to cars and everything in between.


Gas prices held steady this past week but that is about to change.

Prices at the pump are expected to keep rising through the rest of the month.

READ: Young families leaving Orlando for more affordable spot, economists say

You’ll notice higher prices at your favorite grocery store too. The average American household is now paying $275 more a month for the same goods and services than at this time last year.

Inflation is at a 14 year high in the United States.

WATCH: As investors eye Orlando’s real estate market, young workers feel pushed out

In an attempt to fight inflation, the Federal Reserve wants to raise interest rates next month.

Economists said it would make the cost of borrowing money more expensive and it should slow down demand and hopefully drop prices across the board, whether at the gas pump or the florist.

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Q Mccray

Q McCray, WFTV.com

Q McCray is an award-winning general assignment reporter.