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LEE COUNTY | FGCU economist unpacks inflation rates ahead of Thanksgiving

Thanksgiving Inflation
Posted at 8:57 PM, Nov 02, 2023

LEE COUNTY, Fla. — Are you getting ready for holiday shopping, specifically Thanksgiving? Well, you're probably going to pay more at checkout.

FGCU is taking a look at how inflation is impacting your family's wallets.

“I got two bags of groceries, and my bill was $126.00," Lynn Doty, a Bonita Springs resident said.

Victor Clarr is an economist and professor at Florida Gulf Coast University, who is tracking the trends.

“The simplest way to think of inflation is, it’s evaporating the purchasing power of your money," Claar said.

He says families here in southwest Florida are paying about $600 extra each month.

"This means for a typical southwest Florida family, it might take more than $10,000 a year to buy exactly the same things that you bought two years ago," he said.

It's something Doty says she sees as she buys necessities for herself and her family.

“Everything’s just inching up little by little," she said.

While it’s a waiting game, hoping the economy turns back around, Clarr believes there’s a reason we're in this position.

“Typically when a country has an inflation period like the one we’re experiencing, it’s because the people who print money have printed too much," he said.