Suits: An inventive way to save money on food amidst inflation

The Consumer Price Index (CPI) showed a 7.1% increase in prices over the last year and a 0.1% increase over the prior month, according to the Bureau of Labor Statistics. (Photo by Michael M. Santiago/Getty Images)

(Photo by Michael M. Santiago/Getty Images)

The inflation rate is increasing at a slower pace than expected. The Consumer Price Index (CPI) showed a 7.1% increase in prices over the last year and a 0.1% increase over the prior month, according to the Bureau of Labor Statistics.

Food prices rose 0.5%, a slight rise from October.

“I’m not ‘mister hippie eat local food man’ but I gotta tell you there’s a local person that makes really, really good cheese, and she has a cow, probably named Bossy or whatever, and the cow is in Tenino, in lovely Tenino, where the grass is greener and the hearts are red, and it’s cheaper. It’s better. It’s fresher. And it’s cheaper,” Bryan Suits said.

Energy prices declined 1.6% for the month after a 1.8% rise in October.

The Federal Reserve has continued to raise interest rates over the course of the year — from a range of 0%-0.25% at the start of the year to 3.75%-4% currently — in an effort to slow inflation and put a damper on rising prices.

You can listen to Bryan’s full coverage of inflation here:

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