Inflation hit a 39-year high in November, but it doesn’t have to break your bank

It’s going to cost more to get gifts under the tree and food on the table this holiday season compared to years past.

An inflation report out Friday shows that consumer prices jumped at the highest rate in 39 years, up 6.8% over the last year.

“I coupon a lot,” said shopper Addie Diaz, who knows how to turn it into a season of savings.

It’s come in handy to combat the sticker shock many are seeing lately from gas and groceries to household supplies, and the fact it’s the holidays.

FGCU economist Victor Claar Ph.D. says prices went up 0.8% from just October to November.

Claar added that the numbers actually came in higher than the consensus expectation. And it doesn’t look like those prices are ready to come down at the grocery store either.

We started tracking prices at Publix, Walmart, and Target in July, keeping track of the same 10 goods like milk, eggs, and toilet paper.

Back then, 18-eggs at Publix cost $2.60. Today 3.99.

Whole turkeys nearly doubled in price, but are still below the national average.

A gallon of milk at Target costs $3.69, which is up 10 cents from last month.

And if you can even find Charmin Ultra Soft toilet paper at Walmart, it’s going to run you 50 cents more at $10.47.

But the omicron COVID-19 variant may or may not help with these prices.

“If there is a silver lining here, if people get nervous, again, about omicron,” Claar said, “that might actually discourage them from carrying out purchases. And that might lead to less price pressure, at least on the demand side.”

Until then he says, keep a shopping list, stick to it and never shop hungry.

And do what Diaz does. “Bonus points if you can. Look for sales. Coupons, codes, discount codes.”

Give cash back apps like Fetch, ibotta, Rakuten, and GetUpside a try to get money back for groceries and gas. Also, check your credit cards to see if they offer any cashback rewards.

For ultimate savings, combine them all. A little goes a long way.