Cost of Almost Everything in Silicon Valley is On the Rise as Inflation Looms

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We are in inflationary times.

On one hand, that’s led to more people having jobs with higher salaries, but on the other hand, almost everything costs more.

"We probably spent $50 more on a shopping trip than we did a few months ago," said San Jose resident Lori Leet.

"Silicon Valley, Santa Clara County, a lot of people are doing pretty well out here, but I feel like everyone feels it, for sure,” said Gilroy resident Quillan McJunkin.

It's also been a long time since people paid as much to get gas to go to the store, or work, or a vacation.

"Every time we go to the pump it's like $150 dollars to fill up the car," said Leet.

Higher costs, plus supply chain issues, have ganged up to raise prices across the board.

"If you start from where the farmers are … Water that much more expensive, fertilizer that much more expensive, etc. You just keep passing along those increased costs until it hits the end consumer,” said Caroline Chen, a business professor at San Jose State.

And housing? The Bay Area still leads the nation when it comes to what residents pay for rent. 

And while Chen said gas prices are likely to drop soon, grocery prices will stay high because of higher salaries and supply concerns.

It’s also likely that housing will take a big tech tumble before those prices fall all that much.

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