October 10, 2024
Inflation is falling, but consumers aren’t celebrating yet
The consumer price index was released Thursday morning, showing a continued decline in inflation. Joanne Hsu says, “Consumers have absolutely noticed that inflation has slowed, and they do expect this slowdown to stick.” However, consumers continue to be frustrated by high prices, “Consumers remain quite frustrated by the persistence of high prices, despite the fact that inflation has slowed,” said Hsu. “And those two things aren’t really in contradiction. Over 40% of consumers are telling us that their personal finances are being eroded by high prices.”