CHARLOTTE, N.C. — If it feels like things are costing more these days, trust your gut. A new study from ConsumerAffairs shows inflation was higher last month than it was in January.
While inflation was higher in February, ConsumerAffairs reporter Mark Huffman said some things were actually cheaper than they were in January. Unfortunately, some of those products aren't things you spend money on every day, or even every month.
"Inflation was actually hotter in February than it was in January," Huffman said. "And this took economists by surprise because they were under the impression that prices were going down."
WCNC Charlotte is always asking "where's the money?" If you need help, reach out to WCNC Charlotte by emailing money@wcnc.com.
Huffman said items like used cars and plane tickets were actually lower last month, but that really won't make a dent in your savings.
"How many times do you buy a used car?" he said. "Who travels every month or every week?"
So what is going up? Huffman said those everyday expenses that are just unavoidable.
"The costs that consumers and families pay regularly, unfortunately, went up in the consumer price index for February," Huffman said. "Gasoline and rent made up 60% of the increase."
The news isn't great, but you can get ahead of inflation with better spending habits. Huffman said some grocery prices have gone down lately. Always look for sales and comparison shop so ensure you're getting the best deal.
Huffman said now is the time to really buckle down and look at your expenses.
"Look at where your money is going," Huffman said. "If you're spending a lot of money on credit card bills, and credit card interest rates are at a record high, try to do something to help pay down that debt faster."
For families who are swimming in debt right now? He suggested taking out a balance transfer credit card, which will give you 12-18 months of 0% interest if you transfer the balance of one credit card to that card.
WCNC Charlotte's Where's The Money series is all about leveling the playing field in the Carolinas by helping others and breaking down barriers. WCNC Charlotte doesn't want our viewers to be taken advantage of, so we’re here to help. Watch previous stories where we ask the question “Where’s the Money” in the YouTube playlist below and subscribe to get updated when new videos are uploaded.