COLUMBIA, SC (WIS) – Crowds of people flocked to the stores on Friday to pick up a few last-minute items, but when you step out you might notice the prices have gone up a bit.
From food to gifts a local economist explains how inflation is affecting those last minute purchases.
Joey Von Nessen, an economist at USC says if you’re looking for deals or bargains on Friday you might be out of luck.
“We just get those last-minute toys for our kids,” said Kerri Dilworth, last-minute shopper.
It’s very busy.
“I’m picking up a Christmas present for my niece today,” said Scarlett Cotter, a last-minute shopper.
And it’s the most stressful time of the year.
“Well, I got new grandmothers this year. Yes, everyone wants me to be a babysitter. So, I get them last-minute gifts,” said Linda Pickett, another last-minute shopper.
Last minute shoppers were out in force today just two days before old Saint Nick delivers.
Cotter says “This store is really full.”
“The crowd was really crazy. “We were in line for a long time,” said Kerri Dilworth, a last-minute shopper.
But the gift that many people don’t look forward to this holiday season is inflation.
“The inflation rate is 7-point 1 percent which means that a set of things that would have cost $100 last year will be $107 this year and many goods have gone up by more than that,” said Joey Von Nessen, USC Research. Economist.
Joey Von Nessen is a research economist at the University of South Carolina. He says the price increase this year is forcing many people to look for deals.
But when it comes to last-minute shopping, you may be out of luck to find good deals on certain items you want.
“The shelves were empty. Especially in the playground. “We didn’t have to buy another doll when the package was completely wasted,” said Cotter.
And while prices may be higher this holiday season Nessen says for most households it doesn’t have to break the bank too much.
The big trend today was to pre-order online and pick up in person. A global survey shows that 55 percent of people chose to shop online this year over previous years. Reporting on Garner’s Ferry Road.
Nessen says that although inflation is still bothering us, it has decreased since the beginning of the year. Going into 2023, Nessen expects to see inflation continue to decline.
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