Report: Consumer goods saw June price jump
As the U.S. Labor Department reports consumer prices jumped in June, Norwalk residents say they're turning to coupons for relief.
The new report shows prices shot up at the second fastest pace in 26 years last month, but that didn't surprise many in Norwalk. Many say they've noticed their checking accounts dropping faster than expected as the prices on groceries and gas continue to climb.
Marge Kitchens, of Norwalk, says it's tough to live on Social Security benefits with the soaring costs.
"I buy the fruit that's on sale and any items on sale that I use," she says. "I don't know what they expect us to do."
Fairfield University professor Edward Deak says it's important for people to be smart with their money, and utilize using coupons, buying sale items and trading name-brand products for the store brands.
"These are all things people forget to do when times are good and there's a lot of cash," Deak says.
Rising energy and food costs plus the housing market trouble have created a perfect storm, the professor says.
"I think that you're just buying what you need now. You're not going overboard," Deak says.