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Apr 15, 2008 12:48 pm US/Eastern

CBS4 Your Money: Record Foreclosures & Record Gas

UNDATED (CBS4) ― CBS4 Your Money on Tuesday reports about the rising number of foreclosures in South Florida, rising wholesale prices which is causing consumers to pay more for products and the rising price of gas, especially in South Florida.

                    RECORD S. FLORIDA FORECLOSURES

The increasing cost of living is taking its toll on more homeowners here and across the country. Foreclosure filings nationwide jumped 57 percent last month with one out of every 538 US homes in foreclosure proceedings.

Here in South Florida, first quarter foreclosures reached 11,393 in Miami-Dade and 10,371 in Broward.

2008 is on track to set another South Florida record during just the first quarter because our region has already passed the total number of 2006 foreclosures which was 9,814 in Miami-Dade and 8,995 in Broward.

                      DIGGING DEEP

If you think it costs more whenever you go shopping, you're right. Rising wholesale prices pushed the latest inflation figures to the second largest increase in the past 33 years. The rising cost of vegetables, rice and beef coupled with higher prices for soap and detergent is stretching your grocery budget.

                      RECORD GAS PRICES IN S. FLORIDA

Grocery prices are climbing because of the steadily increasing price of gas. New record high prices were set Tuesday morning in Miami and Ft. Lauderdale gas stations, the result of rising wholesale oil prices. Crude oil set a new record as it approached $114 a barrel and the US Department of Energy predicts gas could possibly hit $3.65 a gallon over the summer.

Click here to find the cheapest gas in your neighborhood.

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