Consumers should get used to paying higher prices. If inflation eases, that just means prices aren't rising as fast but they're still rising.
When it comes to prices during inflation what goes up, doesn't always come down.that measures how fast prices are rising. If the consumer inflation rate drops from its 40-year high of 8.6% in May, prices are still rising – just not as fast.
"The price level has permanently changed," said Ashton. "Until your wages catch up , it will continue to hurt,”to catch up. In May, inflation-adjusted average hourly earnings decreased a seasonally adjusted 3% from a year ago. When combined with a decrease in weekly hours worked, that resulted in a 3.9% decrease in real wages, the Bureau of Labor Statistics said.used car inflation
"Used car year-on-year inflation is going to continue to fall over the balance of this year. Used car prices are not," Ashton said. "The best we can hope for is they only go up 2%.”Another record month for inflation: New level driven by gas, grocery prices and high rentNeed a new car? July 4 deals may fizzle, but here's how to outwit high prices, shortages
“The rate of change is coming down a lot because of these base effects, but the price itself is not falling,” Ashton said.So you may as well consider buying that used car now if you were hoping for a price drop.can be volatile due to outside factors, such as the war in Ukraine, that the Federal Reserve can’t control.
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