Here's some good news for your wallet: inflation is going down.
Just a few months ago, economists were predicting we'd be in a deep recession by now, but numbers released Tuesday show that's not what's happening.
The numbers show the consumer price index, which measures changes in the prices we pay for nearly everything, rose 3.2% in the 12 months that ended in October. That's a drop from 3.7% last month.
Beyond more cautious spending, another key factor fueling the drop is more Americans are working. The national unemployment rate is holding steady.
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"Our labor stats, the U.S., we keep creating new jobs and people are getting new jobs, and the unemployment rate is the lowest its been in decades," San Jose State University economics Professor Caroline Chen said.
Another key is lower gas prices, even though the price per gallon can differ by 42 cents, depending on the local station you visit.
But it's not a quick process. Shoppers say they're still waiting to see things turn around at the checkout line.
"Everything is up," shopper Eden Gee said. "Inflation is not down. It’s actually double the prices, honestly."
Experts say there are also factors that can derail the drop, like the high mortgage rates that are still preventing many from buying a home. That means more people are renting, driving rental prices up nationwide.
