Higher prices due to inflation impacting Coachella Valley Thanksgiving shopping

Inflation has been on the rise since 2021, raising food prices nearly 25% since the COVID-19 pandemic.

And Coachella Valley shoppers are feeling the weight, with many cutting back on holiday spending due to high sticker prices.

Robert Vasquez is retired in Palm Desert and says inflation has limited him and his wife's ability to travel as they help family members recover from the costs.

"The prices are higher. We buy a little bit less. We can't buy enough for everyone, but we try our best," Vasquez said.

CBS News reports October's inflation rates rose to 2.6% following a steady flow earlier this year.

Shon Hiatt, a business professor with the University of Southern California, says it's unlikely prices will ever go back down to pre-pandemic rates, but the hope from the Federal Reserve is that interest rate cuts will steady costs.

Tonight at 5, News Channel 3 shares more on how shoppers are feeling the brunt of rising costs.