The Federal Reserve's Beige Book has confirmed what many shoppers have already suspected: businesses are passing the extra cost on to consumers and customers are altering their buying habits to find ways to cope.

The report has found overall businesses have not hesitated to pass extra costs on to customers.

This is evident as AAA has reported gas prices reached a recording-breaking average of $5 per gallon across the nation.

The latest Labor Department report showed that consumer prices in June 2022 jumped from 0.9 % in May and 5.4 % in 2021, marking the largest 12-month inflation increase since back in August 2008.... Read More: FOX45