INDIANAPOLIS — President Joe Biden is expected to comment on inflation Tuesday afternoon and address criticism of his economic policies. Last week, the Federal Reserve raised interest rates by half a point.
Inflation is the worst it's been in 40 years, and it's having an impact on local businesses in Indianapolis, as many owners are increasing the prices of their items.
Aleta Osborn, owner of Pure-Trition juice and smoothie bar, said certain ingredients have been hard to come by, on back order or just more expensive. She relies heavily on fresh produce each week for smoothies, and she's recently increased her prices to avoid losing out on profits.
"Specifically, our Goji Berries are very expensive now. Going up about $6 a pound," Osborn said. "So, we notice it and we really don't want to pass that expense on, but at some point, you have to."
Osborn said that her customer support has stayed consistent despite the increased prices.
"Some have said, 'Don't worry about it, everybody's raising their prices, it's expected.' Others have said, 'It's a little more than what I was paying before, but I love it, so instead of getting a large, I'll get a medium,' or instead of getting four juices, get two or however many," Osborn said.
Several other restaurants in Indianapolis have signs posted letting customers know about price increases due to inflation.
Biden said a top priority is to get prices under control. A survey released by the Federal Reserve Monday found consumers were a bit less worried about inflation last month than they were in March.