Inflation here? gas/grocery prices just continue to climb

Yep. In most cases, you can't cut out gas because you need it to go to work to make money. You might be able to cut back a little on food or maybe buy the store brand rather than brand name item, but you still need food. It's going to be the extras - books, electronics, concerts, etc. that will be cut out first.
Eventually folks will have to evaluate their personal lists of ‘wants’ and ‘needs’. Before long the wants will need to be cut back or eliminated. That may not seem to critical unless you are a business that caters to the ‘wants’ in our society. Some of us are to the point of not doing anything for fun anymore. Seriously, nothing.