** Why are gas, groceries, housing so expensive in Pierce County? Tacoma economist explains

The ongoing inflation crisis poses significant challenges for residents of Tacoma and Pierce County, particularly regarding the rising costs of essentials like groceries and gas. Economist Andrew Monaco from the University of Puget Sound provides insights into the reasons behind the increasing living expenses in the region. The area's desirability attracts wealthier individuals, leading to heightened demand for housing and consequently driving up rental and mortgage prices. Additionally, a limited housing supply and rising construction costs exacerbate the affordability crisis. Monaco also cautions that proposed tariffs could further inflate consumer prices.

Increased minimum wages and higher rents for grocers contribute to the rising prices of goods. While the economy has shown signs of recovery since the pandemic, many goods and services remain more expensive than pre-2020 levels. Understanding these economic dynamics is crucial for Tacoma residents as they navigate the challenges posed by inflation.