Survey says three out of four Dayton products and services increase prices

Local eggs are up in the Dayton area, according to a new survey of prices for goods and services in 260 US metropolitan areas. Cornelius Frolik / Crew

Local eggs are up in the Dayton area, according to a new survey of prices for goods and services in 260 US metropolitan areas. Cornelius Frolik / Crew

With U.S. inflation rising 8.6% in May from a year earlier, some of the biggest price increases nationally were related to shelter, airfares, and new and used vehicles, the U.S. Bureau of Labor Statistics said. Costs for medical care, home furnishings, entertainment and clothing also jumped.

On a local level, the Community and Economic Research Council recently released its Cost of Living Index for the first quarter of 2022. The index reviews the prices of food, housing, utilities, transportation, health care, and miscellaneous goods and services in more than 260 metropolitan areas in the United States. The data from the index is published every three months.

People still enjoy shopping at Second Street Market even with the higher prices for services and products in the Dayton area. Marshall Gorby / Crew

People still enjoy shopping at Second Street Market even with the higher prices for services and products in the Dayton area.  Marshall Gorby / Crew

People still enjoy shopping at Second Street Market even with the higher prices for services and products in the Dayton area. Marshall Gorby / Crew

For the Dayton metro area, in the first quarter of 2022, prices increased in 46 of the 60 categories of goods and services surveyed, compared to the first quarter of 2021. In the previous twelve-month period (2020 to 2021), prices increased in only 24 from 60 spending categories.

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Products that saw some of the biggest price hikes in the Dayton metro area included wine, eggs, boys’ jeans and chips, with some of those prices doubling.

Year-over-year, rents are up 56% and gas prices are up 39% (even before the recent price hike). Prices of dry cleaning services, beauty salons, home prices, and visits to doctors and dentists also increased, according to the index.

A man walks past the mural on the north end of Dayton Arcade after finishing shopping at Stop-N-Save Foods on West Third Street in downtown Dayton. Cornelius Frolik / Crew

A man walks past the mural on the north end of Dayton Arcade after finishing shopping at Stop-N-Save Foods on West Third Street in downtown Dayton.  Cornelius Frolik / Crew

A man walks past the mural on the north end of Dayton Arcade after finishing shopping at Stop-N-Save Foods on West Third Street in downtown Dayton. Cornelius Frolik / Crew

Wine prices may have risen in the United States because bottling has become more expensive and can be expensive to transport, according to some industry and news reports.

Rents have risen at the fastest pace in decades, according to some studies, and some local businesses have raised prices to meet rising costs, while others are struggling to stay profitable.

The Rye Toast restaurant in Miamisburg recently announced its closure and blamed its closure on the increasing cost of merchandise.

Wine prices are up in the Dayton area, according to a new survey of prices in 260 US metropolitan areas. Cornelius Frolik / Crew

Wine prices are up in the Dayton area, according to a new survey of prices in 260 US metropolitan areas.  Cornelius Frolik / Crew

Wine prices are up in the Dayton area, according to a new survey of prices in 260 US metropolitan areas. Cornelius Frolik / Crew

When inflation increases, people’s purchasing power decreases, and consumers usually adjust by reducing spending and putting off larger-ticket items such as new cars, vacations and new housing, said Kevin Willardsen, associate professor of economics at Wright State University.

Willardsen said that rising and rising prices also tend to reduce or eliminate spending on few “luxuries” and non-essential entertainment items such as subscriptions to streaming services.

Netflix lost subscribers after the price hike, and some observers believe this indicates that consumers are starting to respond and adjust their spending due to inflation. Other companies blamed sluggish sales growth on rising costs and prices.

“It’s little things like you’re going to cut your budget, because you can’t cut gas, you can’t cut food, you can’t cut rent — and all of those things get exponentially increased,” Willardsen said.

Egg prices are up in the Dayton area, according to a new survey of the prices of goods and services in 260 US metropolitan areas. Cornelius Frolik / Crew

Egg prices are up in the Dayton area, according to a new survey of the prices of goods and services in 260 US metropolitan areas.  Cornelius Frolik / Crew

Egg prices are up in the Dayton area, according to a new survey of the prices of goods and services in 260 US metropolitan areas. Cornelius Frolik / Crew

Wages are increasing, Willardsen said, and lower-income earners have benefited more than some higher-income workers, but unfortunately in many cases, the gains have been wiped out by higher prices.

Schubert, who lives in Dayton, said she’s cutting back on spending on clothing and entertainment, such as going out to dinner or having drinks with friends.

She said she tried to cut back on spending on “wants” because she couldn’t do much about spending on “needs.”

But Schubert also said she is trying to “cut corners” when grocery shopping, and is trying to limit car trips because it recently cost $120 to fill up her gas tank.

“I base my menu and meals and cook food based only on what’s for sale,” she said, adding that if prices keep going up, “I think I’ll eat a lot of ramen noodles.”

U.S. inflation rose 8.6% in May, year on year, the fastest growth since 1981, the U.S. Bureau of Labor Statistics reported Friday, June 10.

U.S. inflation rose 8.6% in May, year on year, the fastest growth since 1981, the U.S. Bureau of Labor Statistics reported Friday, June 10.

U.S. inflation rose 8.6% in May, year on year, the fastest growth since 1981, the U.S. Bureau of Labor Statistics reported Friday, June 10.

In response to the price hike, Beverly DeCoster said she tried to “tighten” her budget because she retired and just started receiving Social Security benefits this spring.

“I’m a little more careful,” said DeCoster, 64, who lives in the Dayton area. “I rule out unnecessary extra things.”

Some studies show that inflation causes people to buy cheaper brands, or fewer products or products for sale.

Some locals say they haven’t tightened their financial restrictions yet, but that could change.

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Cecily Edel, 55, who lives in Kettering, said she hasn’t changed her shopping behavior and probably won’t change what she buys, even if prices continue to rise.

Idle, who is a dental hygienist, said she might try to buy a few of the products she normally buys if prices go up significantly.

Idle and her husband plan to drive to Maine this fall on a camping trip, but they might reconsider and stay closer to home if gas prices rise to $6 a gallon or higher.

“I think gas is the biggest concern, and wise spending for us,” she said.

The price of UDF gas at the intersection of East Stewart and Brown Street exceeded $5 a gallon. The average price of a gallon of gas rose 11 cents from Tuesday to Wednesday last week. Jim Noelker / Staff

Credit: Jim Noelker

The price of UDF gas at the intersection of East Stewart and Brown Street exceeded $5 a gallon.  The average price of a gallon of gas rose 11 cents from Tuesday to Wednesday last week.  Jim Noelker / Staff

Credit: Jim Noelker

The price of UDF gas at the intersection of East Stewart and Brown Street exceeded $5 a gallon. The average price of a gallon of gas rose 11 cents from Tuesday to Wednesday last week. Jim Noelker / Staff

Credit: Jim Noelker

Credit: Jim Noelker

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