The New Normal: How will inflation impact your holiday travel and shopping?
News 12's Doug Geed was joined by CPA and economic consultant Marty Cantor to discuss how inflation and supply chain issues will impact your holiday travel and shopping.
If you're driving to visit friends and family for the holidays, expect high prices at gas pumps across the tri-state. As well, any dishes you pick up from grocery stores to share with loved ones may be more expensive.
The White House announced that it will release 50 million barrels of oil from the strategic reserve to bring down energy costs on Tuesday.
However, Cantor says this may not provide as big of a relief on prices as many people are hoping.
Cantor says gas prices often go up during the holiday season due to increased demand, but this year is especially high due to a supply issue.
Cantor says it's often hard during the holidays to support small businesses when many of the biggest deals are available at big box stores.