Economics

444 readers

1 users here now

founded 1 year ago

Americans' refusal to keep paying higher prices may be dealing a final blow to US inflation spike (apnews.com)

submitted 3 months ago by [email protected] to c/[email protected]

15 comments fedilink hide all child comments

The great inflation spike of the past three years is nearly spent — and economists credit American consumers for helping slay it.

Some of America’s largest companies, from Amazon to Disney to Yum Brands, say their customers are increasingly seeking cheaper alternative products and services, searching for bargains or just avoiding items they deem too expensive. Consumers aren’t cutting back enough to cause an economic downturn. Rather, economists say, they appear to be returning to pre-pandemic norms, when most companies felt they couldn’t raise prices very much without losing business.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 6 points 3 months ago

I feel like your public transit agency has to be ripping people off for it to be more expensive than driving. Renting a parking spot cost us almost half of the unlimited transit pass, and repairing my car's AC could have paid for close to a year of passes. Not to mention gas and other routine maintenance (I would change my own oil but it's inaccessible without getting underneath, and my apartment complex has a rule against "repairs" in the parking lot which I'm sure lifting my car would count as).

Being slower is just par for the course in the US though so that doesn't surprise me.