Are your piggy banks squealing yet? That might be more likely than hearing 'cha-ching!'

It seems like everything costs more these days--food, fuel, housing, energy.

The United States Department of Labor's Bureau of Labor Statistics released 2007 statistics on Wednesday.

You can find that information at bls.gov.

Here's a summary:

Inflation went up 4.1% in 2007, mostly due to energy (17.4%) and food (4.9%)

Since 2000, that's the highest rate of inflation. While costs went up 4.1%, the average weekly wage went up only 3.4%

"The cost of living for the typical person has gone up and their ability to pay for the things they are buying had not increased co-measuredly," explains Frank Bonello, Economist and Professor at the University of Notre Dame.

Bonello says if you look at the big picture, we're actually better off than we were about 25 years ago. He says when you compare disposable income, the amount of money you have to spend after taxes, from a few decades ago, the average person has more today. The average disposable income in 1980 was about $17,000 and about $28,000 in 2007.

"It's quite clear that the typical person today is better off than they were 25 years ago," Bonello says.

That doesn't mean paying for the weekly gallon of milk or monthly box of cereal isn't hurting many people.

"The milk is outrageous of course. Three dollars or more a gallon," says Marion Young as she searches for the sales.

"It's getting harder and harder to really purchase the things we've been used to in the past," explains Alice South, also as she food shops.

The economic future of 2008 is now on the minds of economics and shoppers. Prices will remain high--and that you can take to the piggy bank.