RALEIGH, N.C. — With prices seemingly on the rise everywhere you turn, Dr. Mike Walden, an economist and professor at North Carolina State University, believes we could be headed for another recession by the end of the year.
Walden expressed concerns about the economy during an exclusive interview with WRAL News. The discussion focused on gas prices, which are on a slow decline since North Carolina hit the highest recorded gas price in state history, $4.38, in March.
Even though gas prices are slowly improving, Walden said the rise in the cost of gas, groceries and other essentials is preventing people from spending money on other things.
"Most people have to drive some amount of time or some distance to their work," he said. "People live on a budget. They don't really have maybe an option ... they have to get to work, they have to school. So it's taking money away from other things that they could buy ... and I think this is going to have a major impact on the overall economy going forward."
WCNC Charlotte is always asking "where's the money?" If you need help, reach out to WCNC Charlotte by emailing money@wcnc.com.
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