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Economy

From chicken wings to used cars, inflation begins to ease its grip

But there’s still a long way to go before consumers feel much relief or the Federal Reserve hits its goal of a 2 percent annual price target

By
December 4, 2022 at 6:00 a.m. EST
A shopper looks at Black Friday displays at a Walmart store in Wilmington, Del., on Nov. 25. With inflation at record levels, retailers expect shoppers to be looking for especially good deals as discretionary spending falls. (Samuel Corum/AFP/Getty Images)
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The price of gasoline is dropping like a rock. Chicken wings are suddenly a bargain. And retailers drowning in excess inventory are looking to make a deal.

After more than a year of high inflation, many consumers are finally starting to catch a break. Even apartment rents and car prices, two items that hammered millions of household budgets this year, are no longer spiraling out of control.