Be prepared to pay more money if you carry debt, or if you’re trying to buy a house as interest rates are once again going up.
If you walk into a restaurant and ask any small business owner, they’ll tell you that inflation is still a big problem.
"Paper products have quadrupled, meats have quadrupled, it's very hard for a small business to stay alive nowadays,” said Zolmay Rasuli, owner of Halal Gyro Express.
The same goes for shoppers getting groceries, and drivers getting gas.
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Which is why, for the fourth straight time, the federal reserve chose to raise interest rates, trying to slow an economy that, because we keep shopping and spending, is still piping hot.
"If consumers continue to spend and don't pull back, there's really no incentive for companies to reduce their prices,” said Caroline Chen, business professor at San Jose State University.
So for now, credit card debt will be more expensive, taking mortgage rates along for the ride.
The next big test? Will people still pay high prices during the holidays?
"Because there are going to be people who will say no, that isn't gonna happen for us this year,” said Chen. “We are gonna put the brakes on our spending because we cannot afford the prices."
