FORT WAYNE, Ind. (WANE) – Fort Wayne economic experts weigh in on inflation spikes and how residents can continue to afford to live.

Inflation continues to rise, many see it at the grocery stores and at the pump, but is it a little worse here in the Midwest?

Rachel Blakeman, the Community Research Institute Director with Purdue University Fort Wayne, definitely thinks that data would affirm that.

“So what we know is the Midwest is slightly outpacing national numbers,” she said, pointing to a number of different factors, like groceries.

If you feel like you’re getting hit extra hard, you’re not imagining things.

Rachel Blakeman

According to Blakeman, the cost of food away from the home in the Midwest rose 8.8% compared to 7.4% nationally.

But it’s not just food.

Overall the CPI (the consumer price index), which tracks the total amount US consumers pay, is .2 percent higher this month than the national CPI.

There are a few other reasons Blakeman pointed out that make this spike in inflation unique.

“Then there’s a huge segment of the population, many millennials who have never lived through this.”

Rachel Blakeman

The president of Reynolds Wealth Management, Greg Reynolds, also noted this oddity. But he encouraged those in the market that, if financially possible, it could be a great time to buy.

“A market like this might only happen once or twice during your life,” he said.

Reynolds emphasizes that when thinking about portfolio or fiscal making changes in a market like this it is paramount to talk to your financial advisor, even if it’s just to check in.

Stay the course, meet with your financial advisor, reassess your goals, realign your accounts for your trajectory. Whether it’s retirement planning, college education, or private high school

Greg Reynolds

Reynolds emphasizes that it’s all about looking at costs in small “bite sizes,” so you can address everything individually.

He’s also a big proponent of families and individuals drawing up a monthly budget so they can see where they money goes, and how far it goes.

Whether you are just trying to survive or investing while the costs of acquiring stock are low, both experts agree the tumultuous situation makes it likely that this level of inflation will continue.