Rise to the challenge of rising prices! 

As seen in The Oakland Press

May 24th, 2026

Rise to the challenge

of rising prices!

by Ken Morris

When I stop to fill up my gas tank, the other people at the pumps usually have their phones in hand, talking or reading. But when I filled up after the price of gas surpassed $4, the picture was very different. I saw six other cars and none of the pumpers were holding a phone. Instead, every one was staring at the pump, their eyes fixated on the numbers spinning like a slot machine in a casino. But when the spinning stopped and the final price appeared, not a single one considered themselves to be winners.

After filling my tank, I stopped at the grocery store to pick up a few essentials. I didn’t so much notice higher prices as I did smaller volumes. For example, my bag of coffee used to be 12 oz. The same coffee was at a comparable price, but now it was just an 8 oz package. When I got home and went through the mail, there was a letter from my health insurance carrier notifying me of an upcoming premium increase. It was nearly 25 percent.

Economists use many sophisticated tools to measure the state of the economy. Inflation is part of the equation. But you don’t need to be an economist to notice that a dollar doesn’t go as far as it did even just a year ago. And people are really feeling it.

This is the Memorial Day weekend, the unofficial start of summer. I suspect that many families, slammed by the higher prices of gasoline and almost everything else in their daily lives, will be changing or even canceling their travel plans. It’s becoming quite evident that more and more households are feeling the financial stresses associated with rising prices.

Many economists have recently referred to a “K shaped economy,” one that is being experienced very differently by different segments of the population. The upstroke of the letter represents those who can absorb rising prices with little or no adjustments to their lifestyle. The downstroke of the K stands for those that can’t keep up with rising prices and are falling behind.

I’m not an economist, but I think a better visual for illustrating our current economic environment is a capital E. The top arm of the E represents those that can absorb just about anything that the economy throws at them without any significant lifestyle changes. The lower arm of the E represents those that struggle in just about any economic situation. They are the segment of the population that will likely always need help from the many social programs that are provided by charitable organizations and some government agencies.

The central arm of the E is the majority of the population. Those without unlimited financial resources, but with a solid financial foundation and reasonable grasp of finances. They feel the pain of rising prices, but are doing well enough to adjust their lifestyles by belt tightening and making prudent financial decisions. Many households are surviving today’s economy but more and more are struggling to keep their financial heads above water.

If you’re not at the top bar of the E, it’s important to make adjustments according to your financial situation. Do whatever it takes to control your spending, even if it means drinking less coffee. Running up credit card debt is not smart financial planning.