ATLANTA — We’ve all felt the effects of inflation over the past few years.
Now, experts are saying the prices are going down, but not everyone feels that relief, especially when it comes to purchasing certain necessities.
Channel 2′s Linda Stouffer spoke to shoppers and an economist to learn what the trend is looking like from the data, and how it feels walking the aisles at local grocery stores.
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Recent data from the U.S. Bureau of Labor Statistics shows that overall, inflation is lowering, including grocery prices.
Mark Hamrick, a Bankrate senior economic analyst, said things are starting to cool off.
“Prices have calmed down a bit,” Hamrick told Channel 2 Action News.
The most recent Consumer Price Index, the BLS’ inflation rate report, has “food at home” or groceries down by 0.2%.
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On that list, items like bread, poultry and eggs cost less than the same time last year, but for many, it’s not enough.
“It may be cooling off, I don’t personally see it, but you know, we’ll see,” Clint Higley, a shopper, said.
Other shoppers, like Laura Mitchell, agree.
“It seems the same as it has been for a while,” Mitchell said.
But Hamrick said there’s a reason for that.
“If we look to the time before the pandemic, broadly speaking, prices have risen about 20% and food prices a little more than that,” Hamrick explained.
For shoppers like Higley, it’s felt mostly in the wallet.
“I used to be able to make it with about $100 a week, and now even doing this, you know, it’s $150 a week,” Higley said.
Hamrick said to be patient, that it’s going to take time for prices to adjust as inflation slows down. Bankrate data shows the average hourly earnings are up about 4% so workers are making progress against inflation.
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