$50,000 leaving his monthly payment at about $800. higher than the most recent kelly blue book monthly payment average at $712. this is a new record for that monthly payment. this is a new record, and then the new car prices are actually near records. reporter: in the last year, new car prices have gone up 12.6%. used cars up 16.1%. food, 10.1%, and gas, up 48.7%. but gas prices not necessarily deterring potential buyers at this southern california car dealership. demand is high, supply is still low, and we re still in ship shortage era. reporter: this paired with the high interest rates making it difficult for buyers. you don t see prices decreasing much, and even if they do, just keep in mind that interest rates are rising, so the costs of borrowing money is
12.6%. used cars up 16.1%. food, 10.1%. and gas up 48.7%. but gas prices, not necessarily, deterring potential buyers at this southern california car dealership. supply is low, demand high. reporter: this paired with high interest rates making it difficult for buyers. we don t see prices decreasing much and even if they do, keep in mind interest rates arizing so the cost of borrowing money is going up, that means you re still going to be paying as much or nearly as much as you were even if those prices go down. reporter: car, home and student loans all higher. interest rate osa 30-year fixed mortgage jumped to 5.78% in the last year. this is how it looks.
a quick decision. i needed a bigger car. the jeep was about $50,000 leaving his monthly payment at about $800, higher than the most recent kelley blue book monthly payment average at $712 .. this is a new record for the monthly record. the new car prices are near records. reporter: in the last year, car prices have gone up 12.6%. used cars are up 16.1%. food is 10.1% and gas up 48.7%. gas prices are not necessarily deterring potential buyers. this is at the southern california car dealership.. demand is high and supply is low. we are in a shortage. reporter: this peers with high interest rates making this
food, 10.1%. and gas up 48.7%. but gas prices, not necessarily deterring potential buyers at this southern california car dealership. demand is high. supply is still low, and we re still in shortage era. this paired with the high interest rates making it difficult for buyers. we don t see prices decreasing much, and even if they do, just keep in mind the interest rates are rising so the cost of borrowing money is going up, so that just means you re still going to be paying as much or nearly as much as you were even if those prices go down. car, home and student loans all higher. interest rates on a 30-year fixed mortgage have jumped from 2.93 to 5.78% in the last year. this is how it looks. reporter: he wishes his interests would have been lower but says it was his need and want that motivated his new car
the numbers, down 642 points and fears over just how the federal reserve might respond. if you add to that gas prices that keep hitting new records, first time ever, a national average over $5 a gallon. at the grocery store the cost of food is up more than 10% this time last year, housing 5 1/2%, airfares, 37% and percentage-wise, gas is up a whopping 48.7%. joining me is kaleb silver. let s talk about those numbers, shall we? obviously they re hitting low-income americans very hard. they want to know what s the solution and how fast could it come m. i wish i could tell you. but it we have some looking at 6, $6.20 gas by the end of the summer in california.