Here’s Some Good News (Finally) About Inflation

Here’s Some Good News (Finally) About Inflation Giphy

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We’re all sick of shouldering the added expense of food, clothing, cars, and almost every other consumer good after months of skyrocketing inflation. At long last, however, there appears to be some tangible evidence that the tide might be turning in the right direction.

That being said, it’s not likely that you’ll be able to head to the store and find 2019 prices anytime soon. But you might have a bit less sticker shock the next time you go shopping for the stuff you need.

Things Are Getting A Little Bit Better

There are many factors that contribute to inflation and just as many issues that can result from the effort to stem the tide of rising prices. Although there are still likely some rough economic waters ahead, consumers can take comfort in a few things:

  • Lumber, which was outrageously expensive last year, has seen prices drop by more than half since March.
  • The cost of used cars has been pretty stable in recent months — and prices could drop considerably throughout the remainder of the year.
  • We’ve all seen some relief at the gas pump as the price per gallon is down more than 25% since its recent high.

There are some other reasons for optimism, including a possible downward trend in the price of real estate. Finally, everyday purchases such as the price of eggs, bread, meat, and other foods, are moving back in line with what we were used to paying before COVID-19 shut everything down and the supply chain went all haywire.

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