Here's How Inflation Is Impacting the Bay Area

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Despite recent interest rate increases, inflation is still here and is now starting to eat into job openings.

But there is some good news: gas prices continue to fall with prices seeing a dip for seven consecutive weeks.

But the bad news is other prices are still pretty high, with shoppers pointing to paying a premium for groceries.

Economy watchers said we are still struggling with a combinations of inflation, pandemic and uncertainty about what comes next.

"It's all different factors that are new and that we've not experienced before," said Caroline Chen, a business professor at San Jose State University. "And I think that's where the unpredictability lies."

Another effect of the economic slowdown? Fewer job openings.

While there are jobs to be had in the Bay Area, the economy is starting to impact the tech sector as well -- some companies are going through hiring freezes and layoffs.

NBC Bay Area's Scott Budman explains in the video report above.

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