Inflation is impacting holiday shopping, experts say

'The goods you buy are going to be more expensive.'
Posted at 6:08 AM, Nov 16, 2022
and last updated 2022-11-16 06:57:48-05

(WXYZ) — As shoppers prepare for the holiday season inflation could be impacting how much they spend on friends, family, and loved ones this year.

Everything from gifts to food to gasoline has been impacted by inflation and according to the website RetailMeNot, roughly half of shoppers say they will be buying less this year due to it.

Carrie Martin, the owner of Petite Cabane, a children's clothing boutique in downtown Birmingham says she's felt inflation's impact firsthand.

"The biggest change is the price increases the companies we work with have had to have in order to keep their businesses going," she said,

She says most of her products come from overseas in Europe.

"The dollar is strong and that's super helpful compared to other years because we are working mostly with companies in euro. But shipping costs are up. Inflation is up everywhere it's challenging," she said.

And the price hike is linked to the cost of fuel, aka how products get to store shelves and doorsteps.

"The goods you buy are going to be more expensive this holiday season because they cost far more to ship," Patrick DeHaan with said. "Whether they travel on semi-trucks, retail stores, or trains across the country. Even goods you buy online."

Semi-trucks and trains run on diesel fuel which is pretty expensive right now.

Truck driver Earl Hanes says diesel gas in his area is $5.69.

"And it will be at $6.00 probably in a month," he said.

When it comes to shipping rates for sending gifts, experts say don't settle and shop around for better deals.

Just last week, USPS introduced a new quote for competitive pricing.

UPS says they will be increasing pricing on December 27 and FedEx will be increasing on January 2.

Both companies have already increased their pricing by 6.9%.