GREENSBORO, N.C. — Prices are still going up, but not as fast as they were. A chart from the Department of Labor shows the rate of inflation has fallen from a high of more than 9 percent to 2.4 percent last month. That's on par with the 2.3 percent we saw the month before Covid started spreading.
While inflation is going down, many Americans say they are aren't feeling it. According to CBS News, eating out got a lot more expensive during the pandemic. Even since the last year, dining out costs 3.9 percent more.
"It's becoming like a luxury now," said diner Ivy Lewis. "Usually it was something that you just did wanted to do if you just didn't feel like cooking."
CBS News Business Analyst Jill Schlesinger says the grocery store is also tough. Prices are going up slower than overall inflation, but some items have seen huge increases. The CBS News price tracker shows eggs are up 176 percent since before the pandemic, frozen orange juice surged and ground beef is up 47 percent.
"When we talk about the inflation rate moving down that does not mean that prices are moving down," Schlesinger said.
CBS News says one place Americans have found relief is at the gas pump. The cost for a gallon is down almost 50 cents from 2023, but that's expected to change because the conflict in the Middle East is pushing up oil prices.
"I think what we could see is maybe a 10 or 12 cent a gallon increase in gas prices," Schlesinger said.