What’s pushing inflation down? More goods, workers and housing steering consumer prices down
CHRISTOPHER RUGABER
Associated Press
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Sale signs are displayed Nov. 8 at an appliance store in Arlington Heights, Ill. Inflation slowed last month in a sign that interest rate hikes are continuing to cool the consumer price spikes that have bedeviled consumers for the past two years.
Nam Y. Huh, Associated Press
A vehicle is fueled Nov. 8 at a gas station in Palatine, Ill. Gas prices fell 5% from September to October and are down 5.3% from a year earlier, suggesting that cheaper energy could help keep down inflation.
Nam Y. Huh, Associated Press
People line up to order fast food June 30 from a Chick-fil-A restaurant at the Iroquois Travel Plaza rest stop on the New York State Thruway in Little Falls, New York. Though still above pre-pandemic inflation, the year-over-year rise in food prices is down from double-digit increases earlier this year.
Ted Shaffrey, Associated Press
A clearance sign is displayed Aug. 14 at a retail store in Downers Grove, Ill. Consumer prices rose 3.2% in October and saw the smallest year-over-year increase since June, the Labor Department said.
Long past its painful peak, inflation in the United States may be heading steadily back toward its pre-pandemic levels, without the need for further interest rate hikes by the Federal Reserve.
Sale signs are displayed Nov. 8 at an appliance store in Arlington Heights, Ill. Inflation slowed last month in a sign that interest rate hikes are continuing to cool the consumer price spikes that have bedeviled consumers for the past two years.
A vehicle is fueled Nov. 8 at a gas station in Palatine, Ill. Gas prices fell 5% from September to October and are down 5.3% from a year earlier, suggesting that cheaper energy could help keep down inflation.
People line up to order fast food June 30 from a Chick-fil-A restaurant at the Iroquois Travel Plaza rest stop on the New York State Thruway in Little Falls, New York. Though still above pre-pandemic inflation, the year-over-year rise in food prices is down from double-digit increases earlier this year.
A clearance sign is displayed Aug. 14 at a retail store in Downers Grove, Ill. Consumer prices rose 3.2% in October and saw the smallest year-over-year increase since June, the Labor Department said.
