ORLANDO, Fla. - It's no secret that consumer prices are rising and that's also true when it comes to your hurricane supplies.
Professor Richard Lewin teaches economics at Rollins College. He says wood prices this year will be a major expense and basic consumer goods, which are largely imported from overseas, will also be higher.
"The U.S. consumer has been used to being able to get things from Asia quickly and at relatively low cost. The reality of the pandemic is that furloughs here and abroad have meant that the supply chain has been quite constrained," Lewin said.
The Bureau of Labor Statistics shows that consumer prices for May were 5% higher compared to last year. A flashlight costing $5 last year would be $5.25, a blue tarp costing $75 a year ago now costs $78.75, and a $1,000 generator a year ago now runs $1,050.
Local hardware store managers say it's an unfortunate reality that this storm season will be more expensive.
"Rising prices, I think everybody understands where it's come from. So I think they've been pretty understanding about that," said Samantha Hunt, an ACE Hardware Assistant Manager.
Store managers say get the essentials now, in case it takes longer for them to get fresh supplies.
"Flashlights, tarps, batteries, water, things of that nature," Hunt said, "the small things are things you probably need to get."
Economists say predict the prices of most consumer goods to come back down within six months to a year.
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