Introducing the new ABC Price Tracker

PHILADELPHIA (WPVI) -- Information is power, so if you're going to put together a budget, you have to know where your dollars are really going.

And as inflation continues to stretch budgets, consumers are trying to figure out where to make tough cuts.

That's why our 6abc Data Journalism Team has created a new tool to help you maximize your money, and what it reveals might change the way you save and spend your dollars.

"So as you look at the prices that you've paid, what are you thinking? What goes through your mind?" asked Consumer Reporter Nydia Han to grocery shoppers.

"I know they're higher than they used to be," said Renato Minard of West Philadelphia.

"They're definitely high," added shopper Zak Melnick.

"It's been high, it stayed high, and it's something that we really have to take seriously when we're trying to work out our budget," said Sharon Reed of Bala Cynwyd, Pa.

Now you can budget better based on real data, real prices and thanks to our new ABC Price Tracker.

RELATED: Check out the new ABC Price Tracker at 6abc.com/PriceTracker

"There are all these grocery categories here, dairy and eggs, drinks, dry goods and we can click on dry goods," Nydia Han said as she showed shoppers how to use the price tracker.

"And it'll tell you what the current price is?" asked a shopper. "Exactly," replied Han.

"We inputted 10 years of data for the 100 largest metro areas across the country," said Data Journalist Maia Rosenfeld.

And it's all on our website for you to explore. Just search by your city or state.

"And see how prices in different categories, in groceries, in housing, and gas costs have changed over the last 10 years in your area," added Rosenfeld.

All to help you take the biggest bite out of your budget, you can be strategic about saving by understanding what you're spending and the data might surprise you.

"What we think might be driving up that cost of living isn't necessarily what's actually the culprit," said Rosenfeld. "Groceries have actually gotten cheaper compared to other items."

The Price Tracker shows you the accurate, current picture.

For instance, you can see whether grocery prices are outpacing gas prices or vice versa.

"So your spending habits and how you're going to save the most money is going to change based on those trends," Rosenfeld added.

"Is this something you think you could use?" Han asked a shopper.

" Yeah, I mean, it's definitely cool to just slow track it and get an eye on what would be good to buy when," added Melnick.

The data comes mostly from federal agencies and government reports and our ABC Price Tracker will automatically update with the latest prices so you can keep an eye on the trends that matter most to you and your budget.