Inflation & Prices
Inflation Is Cooling, But Prices Are High and Americans Feel It
- Price growth is slowing, but goods are still more expensive
- Ground beef, potato chips cost dollars more than pre-pandemic
Shoppers at a grocery store in San Francisco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
For all the talk that US inflation is cooling, it sure doesn’t feel like anything is getting cheaper. That’s because most things aren’t.
Inflation is expressed as a rate of change, and it is true that prices are in fact growing at a slower rate — what’s known as disinflation. But to the average American, their lived experience is that everything is more expensive than it used to be, and that won’t change until there’s outright deflation.