Why are gas & grocery prices so high?

BIRMINGHAM, AL (WBRC) - Have you been to the gas pump lately? Or maybe even the supermarket? Prices are going up at both.

AAA says it will cost you about $69 more a month to fill up your car compared to last summer.

"Our gas prices are like 50-55 cents a gallon higher than they were this time last year. So we're going to feel it," said Clay Ingram with AAA Alabama.

However, it's not just gas prices. At the grocery store, the average cost of eggs is about 15 percent higher than last year.

"When you see high prices in any area, you think, 'Oh my goodness, we're getting ready to see inflation or hyper-inflation,'" said UAB Finance Professor Stephanie Yates.

However, Yates adds that's not what is happening currently.

"In every area where I've seen a particular price go up, I can see a reason for it," she said.

One of the biggest being too much demand and not enough supply.

"You've got a few bad eggs that are pushing that up," said Yates. "If we know that good news is on the horizon with gas prices and egg prices, we've just got to work through it. But in the short run, it's maybe costing us an extra $50 a month."

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