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Cost of living hits record high in Colorado Springs

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Posted at 7:52 PM, Dec 02, 2021
and last updated 2021-12-02 21:52:18-05

COLORADO SPRINGS — The cost of living in Colorado Springs has risen to its highest level ever.

Data from the cost of living index prices show 109 percent of the national average.

"Prices in the stores have increased significantly," said Melissa Hall.

After experiencing homelessness with her five children, Hall spends most of her days giving back to those in need, especially with the cost of living so high.

Prices for staples like meat, poultry, milk, and eggs are all on the rise, but those aren't the only things seeing dramatic increases.

"I can remember years ago you can find a three or four bedroom under a thousand bucks, but now they are going for two thousand or twenty-five hundred," said Hall.

Hall become a couponer to help cut costs.

"And I tend to keep a majority of that quantity to make sure that we are okay, especially since we are still in a pandemic," said Hall.

Local economist say the biggest increases are those household staples, but it's also housing, energy, and gasoline.

"Energy costs overall are up to thirty percent year over year, and gasoline is up to fifty percent," said Tatiana Bailey, Director of the UCCS Economic Forum.

Inflation is not helping the problem.

"People with money are really spending it which is great but it pushes up the costs because the demand is still there and you have a segment of the population that is willing to pay," said Bailey.

Colorado Springs City Council members are trying to combat the issue.

"We try to work together regionally to decrease costs, even to buy fuel in bulk so we can get it less expensive," said Tom Strand, Colorado Springs City Council.