PALM BEACH COUNTY, Fla. — New numbers released Wednesday show that inflation trended back up in January.
Overall, it's risen 3%, according to new data from the Bureau of Labor Statistics.
WATCH BELOW: Economists explain why inflation continues to climb
Ask any shopper and they'll tell you they already know the daily costs aren't going down.
"I don't see any change," shopper Yolanda Vega told WPTV on Wednesday. "I see an increase."
Food prices increased 0.4% in January and 2.5% over the last 12 months.
"Food is what a lot of us care about. We look at this and the food number is high," Bryan Cutsinger at FAU's College of Business. "Food overall is about 2.5%, and actually if we dig into that, what we see is the larger increase is food away from home ... going out to eat."
Consumer
Highest month-over-month inflation increase since August 2023
The report also said the prices of energy, gas, home prices and rents all increased in January.
"One of the reasons inflation is so stubborn is because the economy has been performing so well," Bankrate economist Greg McBride said.
McBride said interest rates are still the best option for reeling in inflation.
"Rates are the most effective tool but as the Fed often says, it's a blunt instrument and it's not a scalpel. It takes time," McBride said.
Economists say it's likely that interest rates may start inching up again in 2025 in hopes of slowing inflation.
