Inflation Is Ebbing, But Prices Are High and Americans Feel It

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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.

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