PHOENIX — There's potential trouble for your pocketbooks.
The latest inflation report is out and it shows Phoenix remains among the highest in the nation for soaring costs.
If you’ve gone to the grocery store, you know egg prices are through the roof, but that’s not the case for everything. In fact, the price drop for some items, like ham and oranges, may surprise you.
ABC15 went to grocery stores across the Valley to check out the prices.
Some shoppers like Andrew Gedert know exactly what they’re looking for, and how much it will cost.
“We’re going to make stew at some point this week,” said Gedert.
“What’d you buy?” we asked.
“Barley and roast,” he responded.
Others like Lauren Beltz, are shocked by the sticker prices inside.
“Who’s affording this and how? The produce is the biggest thing for me. That’s where I see the most price increase,” she said.
Dennis Hoffman, a Professor of Economics at Arizona State University, says there’s a reason for that.
“The cost of shelter because of our housing price increase. The cost of new and used cars has driven inflation. The cost of gasoline has driven inflation. The cost of food has driven inflation,” said Professor Hoffman.
Within the last month, eggs went up by 11%, lettuce rose by 4%, and dried beans and peas went up by 3%.
“But, frankly, we’re seeing some good news. Prices actually fell over the last couple of months for the first time in several years,” Professor Hoffman told ABC15.
Good news, indeed.
Within the last month, orange prices are down 7%, bacon is down nearly 4%, and gas is nearly 13% down.
Just this month alone, used cars and trucks are down nearly 9%.
The shoppers we talked with are just hoping to catch a break soon.
“I hope that things kind of just even out to what they used to be,” said Beltz.
