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Thrift store bargains getting more expensive
It may be a little harder to find some good deals at your local thrift store.
LOS ANGELES - With inflation climbing to over 8%, thrift stores are becoming a little less thrifty.
Goodwill and The Salvation Army are adjusting their prices as the market value of their merchandise gets more expensive.
The Wall Street Journal reports that traditionally less-expensive stores are not immune to inflation.
Those stores say costs for staffing, utilities, and rent have all increased.
Last week, Gov. Gavin Newsom announced California's minimum wage will increase to $15.50 per hour next year, an increase triggered by soaring inflation that will benefit about 3 million workers.
The increase is required by a state law passed in 2016. But it comes at a good time for Democrats in the nation’s most populous state as they rush to find ways to boost taxpayers’ bank accounts in an election year marked by rising prices that have diluted the purchasing power of consumers.
Newsom doubled down on his plan to send up to $800 checks to car owners to offset this year’s record-high gas prices despite opposition from Democrats in the Legislature. And he revealed a new proposal to send at least $1,000 checks to 600,000 hospital and nursing home workers in recognition of their dangerous work throughout the pandemic.
Inflation has been a problem everywhere, as consumer prices jumped 8.3% nationally last month from a year ago. A labor shortage throughout the pandemic has prompted many companies to increase pay sometimes beyond the minimum wage just to attract and retain workers.
The Associated Press contributed to this report.