A year after inflation soared to the highest level in four decades, price increases are returning closer to normal levels, with families and businesses feeling the difference as wages rise faster than prices and policymakers debate how much more to slow the economy.
Democracy Dies in Darkness
Inflation drops to lowest levels since March 2021 as economy cools
Wages are now rising faster than prices. The Federal Reserve isn’t ready to declare victory yet, because inflation isn’t consistently falling yet.
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Updated July 12, 2023 at 4:17 p.m. EDT|Published July 12, 2023 at 6:00 a.m. EDT