DURHAM, N.C. (WTVD) — A recent report indicates that inflation has eased in November, offering a glimmer of hope during the busy holiday shopping season. However, many consumers in the Triangle region say they haven’t noticed meaningful financial relief. Amanda Dowdy, a local shopper, explained that her household has had to adjust spending habits significantly. “We’ve been tightening our budget and trying to get the most out of every dollar,” she said.
While overall inflation has slowed, certain goods have seen sharp price increases, including coffee and beef. On a more positive note, egg prices dropped by 13% compared to the same period last year. Retail sales showed no growth in October, signaling continued cautious consumer behavior. Dowdy mentioned she’s now focusing more on deals and closely comparing online prices with in-store options to stretch her budget further.
Although the latest inflation figures mark the lowest level in several months, experts emphasize that inflation remains above pre-pandemic norms. Gerald Cohen from the UNC Kenan-Flagler Business School pointed to ongoing challenges, particularly a weakening job market, which is contributing to broader economic unease. “We’re stuck at a relatively high inflation rate,” Cohen noted. “And there’s considerable uncertainty surrounding employment trends.”
The economic strain is also evident in community support efforts. Communities in Partnership (CIP) recently held its monthly food distribution event in Durham, reporting increased demand. Cassandra Smith, a representative, said more individuals—both within and beyond the immediate area—are seeking food assistance. “It’s crucial that we stay connected and responsive to community needs,” she added.
Cohen suggested that interest rate reductions could provide some economic stimulus, but cautioned that the current starting point—characterized by sluggish job growth and persistent inflation—means each policy decision carries significant weight. The Federal Reserve is scheduled to meet next month to review potential adjustments, according to ABC News. “Even a small rate cut can make a difference,” Cohen said, “but the path forward remains uncertain.”
— news from ABC11