WEST SPRINGFIELD, Mass. (WWLP) – The ripple effect on the economy caused by COVID-19 and the crisis in Ukraine is far from over.

“It’s just outrageous. It’s everywhere, it’s everywhere,” said Sharon McCarthy of West Springfield.

Inflation in the U.S. now over eight and a half percent. The resulting price hikes are frustrating consumers as they try to return to pre-pandemic life.

“It’s horrible. It puts a damper on a lot of things folks plan on doing now that the pandemic is hopefully at bay and we can get out more, prices are outrageous, travel,” said McCarthy.

Earlier in April, gas prices were on the decline but the most recent data from AAA shows that national average is on the rise, currently at 4 dollars and 12 cents per gallon.

“Yeah I mean I’ve been seriously considering switching to a moped, just motor around on that, save a ton of gas,” said Keith Meatson of West Springfield.

It’s no secret consumers are feeling these price hikes in their wallets. Financial experts say its up to the Federal Reserve to get inflation under control.

“The Fed is actually behind the curve we think and they’re playing catch up,” said Financial Advisor Mark Teed from Raymond James Financial.

Teed says the Federal Reserve is predicted to raise rates by 50 basis point, which is half of one percent. Then eventually the price of everyday goods will start to decline but that, will come at a cost.

“Immediately, the cost of their variable credit cards will be going up, their mortgage is going up, we still see gasoline prices staying pretty high,” said Teed.