Consumer Catch-up: Rising costs hitting consumers, senior tax break, busy Memorial Day travel expected

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Rising inflation is now hitting consumers in one big place, plus Memorial Day weekend is expected to have a big jump in travelers. What you should know for Monday, May 14, 2018. (Shutterstock)

Inflation now hitting consumers

Economists have been waiting for price inflation to hit. Now we are getting our first hints of where we may really feel its pinch.

At the grocery store.

Bloomberg is reporting that a little known private label food company, TreeHouse Foods, has said it may not have any choice but to hike prices. That's because of rising freight and commodity costs.

Private label companies tend to be on the lower end of the cost scale, so if they raise prices, brand names will have room to make the move, too.

You may remember, the Federal Reserve has been raising rates slowly in an effort to tap down inflation.

Senior tax break

Seniors who want to age in their own homes may soon get a break from the state of California.

A proposal that would provide a tax credit for senior home care services passed the Assembly Revenue and Taxation Committee with bipartisan support.

The measure is expected to ease the burden on seniors who want to stay in their homes, but need help with activities like bathing, dressing, cooking and transportation.

The bill now advances to the Assembly Appropriations Committee.

Busy Memorial Day weekend expected

Memorial Day weekend will be more crowded this year.

AAA says five percent more of us will be hitting the road, that is about two million more travelers.

The busiest travel days will be Thursday May 24 and Friday May 25 when commuters mix with holiday travelers.

AAA says the worst time for San Francisco will be Friday between 3:30 and 5:00pm when travel times will almost double.

While gas prices are higher, AAA expects airfares to be down seven percent this Memorial Day weekend.

Click here for a look at more stories by Michael Finney and 7 On Your Side.

Web copy written and produced by Miranda Dotson
Related Topics:
business7 On Your Sideu.s. & worldconsumerfoodinflationsenior citizenstaxesmemorial dayholiday travel
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