After a period of runaway inflation, Americans see easing monthly price hikes, but when will things return to normal?
Inflation benchmark, which measures price rise in a year, takes a hit 40 year high in June after months of continuous price hikes. Since then, monthly gains have slowed. Whereas December 2022 prices were up 6.5% from a year earlier, a Wall Street Journal analysis of Labor Department data indicated, with annual growth slowing to levels that existed before the pandemic. The inflation seen during the last six months would add up to 1.9% rising prices over the course of a year, which is close to an average annual rate of 1.7% between 2010 and 2020.