WESLEY CHAPEL, Fla. — For the first time in three years, wages are not outpacing the rising cost of living.
The U.S. Bureau of Labor Statistics released new numbers on Tuesday, showing inflation at 3.8% — the highest since May 2023. One of the biggest drivers is food, which is up more than 3% over the last year.
WATCH: Grocery shoppers in Wesley Chapel turn to discount stores as inflation hits 3.8%
Shoppers in Wesley Chapel said they are feeling the pinch, and many are changing where they shop to save money on food.
People are shopping at Aldi, a discount grocery store.
"Just the affordable prices mainly," Ryan Kouyeas said.
"It just seems like being as selective and getting certain goods from Aldi seems to be cutting our costs down quite a bit," Carl Bluthardt said.
The pinch is being felt across the board — from fuel to food.
"Gas has been really bad," Sara Humphrey said.
Meat prices are also drawing frustration from shoppers.
"Most expensive? Chicken, weirdly enough," Kouyeas said.
"Don't buy meat. It's crazy. I mean, beef should never be this high. I've never seen it this high in my entire life. It is crazy," Bluthardt said.
Watch Tampa Bay 28 anchor Paul LaGrone speak to feeding Tampa Bay about the strain of raising prices on locals
Chris Jones, an associate professor in the Department of Economics at the University of South Florida, said the inflation is driven by the conflict in the Middle East.
"We've been dealt a supply shock in the economy," Jones said.
Jones said the war in Iran is having a ripple effect on the economy, because every good depends on energy from oil, which impacts just about everything.
"Anytime your transport costs and your manufacturing costs go up, it's gonna impact the cost of the items. So, with respect to food items, virtually everything is going up in the grocery stores," Jones said.
He said that includes produce, dairy, and meat.
As for when consumers might see some relief, Jones said the conflict abroad is a key factor.
"Until that conflict ends, and you've got a free flow of oil through the Strait, you're gonna see prices stay high," Jones said.
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