Experts: San Antonio residents hit harder by inflation than other parts of the country

Residents of San Antonio are feeling the pinch more than people in other parts of the country as inflation rates continue to rise, according to experts.

Cost-burdened Families

Recent data released by Harvard University indicates that 53% of families who rent homes in the city are cost-burdened, meaning more than 30% of their income is deployed towards housing costs and necessary living expenses. One woman, who preferred to remain anonymous, explained that she was having to move from her apartment back to her parental home because she couldn’t make ends meet.

The State of Economics in San Antonio

Chair of the Economics and Management Department at the University of the Incarnate Word, Taylor Collins, noted that although the rise in inflation is approximately the same across the nation, it’s causing more economic stress for families in San Antonio. Collins elaborated on this by saying, “Since we have a lot of people already living on the edge, economically burdened and living from paycheck to paycheck, the inflation we’ve experienced here has been much more severe.”

Higher Price Hikes

Adding to the financial struggles are the higher prices for essential goods. Department of Economics Chair at Trinity University, David Macpherson, pinpointed that the food inflation rate in Texas, particularly in San Antonio, is higher than the rest of the country’s.

A Call for Help

Despite her challenging economic circumstances, the unidentified woman expressed her disappointment at a lack of relief or aid. She said, “Nobody is helping us and then you don’t qualify for food stamps or anything like that because you make too much.”

This situation highlights the economic hardship faced by many San Antonio families. As the cost of living, particularly housing and food, continues to rise, experts urge policymakers to consider strategies to stabilize prices and provide aid to the most economically burdened. However, amidst these challenging times, the resilience and spirit of San Antonio’s residents continue to shine, proving once again the city’s strength in the face of adversity.