Inflation is the highest it’s been in decades, and that’s straining the buying power of Middle Tennesseans. Residents shared with WPLN News how rising prices are affecting them.
Rent inflation
Ashleigh Brandmeyer is a video editor and producer in Nashville. She’s decided to leave the city for a job elsewhere, in part due to steep rent increases.
“A big factor with this new job I accepted is that I couldn’t afford housing in Nashville with what I was making — not on my own. You know, I have two roommates right now, but if I even wanted to consider looking for a place to live on my own, I would have to make a significant amount more in the city.”
The cost of shelter accounts for between 30 and 40% of Consumer Price Index inflation, and Nashville housing prices have skyrocketed in recent years.
“Not only has inflation impacted, you know, our groceries, our gas, our utilities — I mean, our utilities were double this year than what they were in normal years,” Brandmeyer said, “but also rent has increased hundreds of dollars.”
Homeowners impacted, too
But inflation is also impacting people who own their homes, like Knista Chayangkura.
“I’m trying to do home renovations, and lumber, supplies, home projects are getting more expensive to do,” she said.
“Even hiring out people is causing delays because they have material price increases and shortages.”
Small businesses are feeling the squeeze
William Radford owns The Local Distro, a restaurant and neighborhood market in Salemtown. He calls inflation a “three-headed monster.”
“To me, it’s three pieces. The cost of the product has gone up. The quality of life for my employees, my people, has gone down, because their dollar stretches a little less,” Radford said. “And then the customers, the patrons. All three of those are impacted, so we’re going to be impacted.”
Solutions?
WPLN News asked what, if any, solutions residents thought would be helpful to combat the effects of inflation. Radford said he would like to see small local business benefit from similar tax breaks to large corporations moving to Nashville, like Oracle.
He says that kind of move could “preserve some of what makes Nashville attractive in the first place.”
Brandmeyer said she thinks a response from local leaders will have the greatest impact.
“Everyone wants to point the finger at the president. Everyone wants to point the finger at senators when, in reality, I think local government is where things really happen for people that has tangible change.”
She said she’d like to see Metro Council members and state legislators work to help people who are struggling with rising prices. The legislature did pass a state budget that grants a sales tax holiday on groceries for the month of August.
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