PSA: inflation is not “down.”
July 2023 CPI was 3.2%.
But in July 2022, prices were up 9.1% vs July 2021.
And in July 2021, prices were up 5.4% vs July 2020.
The *rate* of YoY price increases has gone down slightly.
But your purchasing power keeps going down year after year.
One very important detail that is often forgotten about: Inflation compounds.
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