Inflation is down and job growth is relatively stable across the nation, but prices for many consumer goods, including food and housing, remain elevated.
The Federal Reserve Board is expected to begin cutting interest rates this month. While that will help to eventually cut borrowing costs for many Americans, it is less clear how or when prices for consumer goods will decline.
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The Associated Press reported that consulting firm McKinsey said that 53% of consumers in its most recent survey “still say that rising prices and inflation are among their concerns.”
What’s keeping prices elevated? Do consumers share the blame for overspending?
