NEW YORK (WABC) -- It may seem like everything went up this year except paychecks, as the price on goods rose 7.5% on a year-on-year basis in January -- the fastest annual pace in 40 years.
So how can you deflate your monthly bills? 7 On Your Side went shopping to find seven inflation busters on every day items that are putting the pinch on your pockets.
Groceries are costing more, and supply chain issues have made furniture more expensive as well. Delays in shipping and sourcing have also pushed apparel prices up.
Consumer expert Andrea Woroch suggests shopping at consignment stores or secondhand fashion resale sites.
"We're looking 70% to 90% off regular retail prices, especially if you look at those clearance sections," she said. "And what I love about these sites is you can also sell the clothing you're no longer wearing."
She also said sometimes you can get clothes brand news with tags. You can go to Swap.com and there's a section called "brand new with tags."
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Swapping is trendy too, and sites like Swoondle Society, created by a mom sick of watching her kids' stuff go to waste. It's a hassle free market to trade children's clothing.
"You can sign up for a membership to get unlimited trades or pay a small fee," Woroch said. "They send you a bag, and you fill it up with the clothing and shoes your kids no longer fit into."
Furniture is one of those bulky items sitting in shipping containers, making couches costly. Furniture is up 10% since the pandemic. One solution is to find used items.
"Look at OfferUp or Facebook Marketplace," Woroch said. "I also love shopping at warehouse stores."
Ask for last year's models or see if they'll slash the price on a floor model that has been sitting on the showroom floor.
Groceries are ringing up at a higher cost all around, with beef up 25%. It's the manager's special section first.
"This could be meat, fish, dairy that is nearing its expiration date and they will mark that down," Woroch said.
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Also put in the grocery bill on a rewards card that pays you back for groceries. If you're shopping online, make sure you're using a cash back shopping site, like CouponCabin.com.
"So right now they're offering $6 back at Instacart, they also are offering up to $2.50 at UberEats," Woroch said.
She said regardless of where, always check cash back offers -- it's like like free money, and it doesn't take any extra effort.
Some good news is that a few things are cheaper now, including COVID tests, because free tests have dropped demand and increased supply.
Car insurance is also cheaper, with the average cost in the metro area is about $1,876. If you're paying more than that, try to bundle and shop around.
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