KSHB 41 reporter Abby Dodge covers consumer issues, personal budgeting and everyday spending. Share your story idea with Abby.
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According to new Consumer Price Index numbers released Wednesday, the price of goods rose by just 0.2 percent in August.
Year over year, inflation is at 2.5%, which is close to the accepted annual average.
One subcategory that remains on the rise is housing.
In 2020, 23% of renters were spending more than 50% of their monthly income on housing. Costs have only gone up since.
"I think they are going up a little too high, like seriously," said Darius Hunter, a Kansas City renter.
Hunter rents a one bedroom apartment in Hyde Park for just over $1,000 per month.
He said he believes it’s one of the best rent deals in the area, but still struggles to afford it.
“Less food, less buying anything that I really need," Hunter said of the sacrifices he makes to afford rent.
Other categories of note trending in a more positive direction are gas and groceries.
Gas is down 10% year over year and groceries are up 2% annually, but just 0.1% month over month.
Another item to watch, the Federal Reserve is expected to cut interest rates at its meeting next week.
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