'Everything is getting more expensive'

Rising consumer prices are now taking a toll on the stock market. ABC News’ Andrea Fujii has more.
1:44 | 05/13/21

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Transcript for 'Everything is getting more expensive'
We turn out your wallet the price of almost everything is going up now it's taking a told the stock market ABC's Andrea for G exploits. This morning more worries on Wall Street after the Dow suffered its worst date in months. Dropping more than 680 points investors concerned about inflation. After word that consumer prices rose in April to a nearly thirteen year high. The overall price of consumer goods rising more than 4% this year what's happening is basically supply demand issues there's just not enough supply you need to me and and that's all over the board food prices up significantly. Seafood rising nearly twining percent fruit and baked goods up nearly 8% and meet about 5% higher. Other goods also more expensive new cars up 10%. Lumber 250%. Airline flights 7% more expensive and by this summer expected pay more for toilet paper and diapers. The inflation blamed on low supply due to the pandemic and severe weather. And now there's a huge increase in demand with more people going back to work. And consumers flush with cash thanks to stimulus checks and tax returns now everybody is is kinda revved up you know wanted to spend money go on trips. You know eat out and so this is causing this is this ripple effect within the economy most experts predict inflation will slow down in the coming months. Saying it's all part to economic recovery process. But experts warn the formally see things calmed down overall prices could rise by 5%. Compared to last year. Mona Andrew. Andrea thank you.

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