Inflation First Aid

Near record-high prices are likely to stick around all year, experts say. Here are creative ways to save on the everyday items that have gone up the most

- MEGHAN GUNN

ECONOMY

ACCORDING TO A RECENT WASHington Post-ABC News poll, 94 percent of Americans describe themselves as either "concerned" or "upset" about inflation. And with good reason: According to the Bureau of Labor Statistics, prices were up 8.3 percent in April from the year before, a slight decrease in the inflation rate from March, but still close to the highest it has been since spiking at over 14 percent annually in 1980.

There are numerous likely culprits, ranging from moves in recent years by the Federal Reserve to brisk consumer demand to supply chain problems exacerbated by the pandemic to higher oil prices linked to the war in Ukraine. But if experts disagree about exactly why inflation is up so dramatically, few of them are expecting it to ease any time soon.

Until it does, consumers will have to look hard for ways to save on things we buy all the time like food, clothing, furniture, cars, and travel. Here are few ideas to help you ease inflation's bite on your wallet in categories where prices have been rising the most steeply.

THE GROCERY STORE IS where most Americans are likely to feel the biggest impact from inflation. The Department of Labor's food-at-home index rose 10 percent over the last 12 months, the largest 12-month increase since 1981, with the biggest markups being meat, particularly beef. According to the Bureau of Labor Statistics, the average price of a pound of ground chuck in April was $4.94, up 1.5 percent from March and up 15 percent from last April.

One e way to save at the supermarket is by paying with a credit card that gives you cashback on food. Blue Cash Preferred Card from American Express gives you 6 percent cash back at U.S. supermarkets on up to $6,000 per year. The American Express Gold Card offers four points for every dollar spent at both restaurants and grocery stores.