Inflation is down, but three in four Americans are still concerned about coming price increases.
Inflation has eased since a 2022 peak, but an estimated three-quarters of American adults are still concerned about coming price increases. While the inflation rate has dropped to 2.9% as of December 2024, Americans are feeling the lasting impact of a historic spike.
How is inflation trending?
After rising to a 40-year high of 9.1% in June 2022, the inflation rate trended down for much of 2023 and 2024, falling to a low of 2.4% in September 2024 before ticking up over the next few months.
The declining inflation rate means prices have been rising at a more gradual pace, and this can in turn mean less stress on consumers.
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