Inflation is slowing, but Americans are still paying the price
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Americans are facing high prices despite slowing inflation. Grocery prices were 22% higher at the end of 2023 compared to the end of 2019. Many staples such as rent, gasoline, electricity, car insurance, and cable TV are also more expensive. Consumer confidence has been affected, with the consumer-sentiment survey hitting an all-time low of 50 points in 2022. Inflation is the top financial worry among U.S. consumers. While rising wages have partly offset price increases, lower-income families are burdened by rising food and transportation costs. Inflation has decelerated to around 3%, but the effects of high prices are likely to persist. The outcome of the 2024 presidential election could be influenced by who voters blame for high inflation. Falling inflation is unlikely, as the rate of overall U.S. inflation has fallen in only one year since 1960.

#Inflation #ConsumerPrices #GroceryPrices #ConsumerConfidence #Wages #Lower-incomeFamilies #2024PresidentialElection

https://www.marketwatch.com/story/inflation-is-slowing-but-americans-are-still-paying-the-price-2c13d7a0