Local professor weighs in on rising inflation

Whether you're shopping at the grocery store or filling up at the pump, you're probably feeling the effects of inflation.

MACON, Georgia (41NBC/WMGT) — Whether you’re shopping at the grocery store or filling up at the pump, you’re probably feeling the effects of inflation.

Dr. Antonio Saravia, an economics professor at Mercer University, says you should hold off on big purchases right now.

He adds that the federal reserve will slowly increase interest rates this year to cool off the housing market.

“If you were thinking about buying a house, it’s better to wait until that happens, because prices are going to go down,” he said. “But unfortunately, apart from that, you’re just going to have to go out there and purchase and deal with this the best way you can.”

He says the federal reserve has to slowly increase interest rates, because raising them too much too quickly could cause a recession.