It means that, in aggregate, the average prices of goods and services are rising, just more slowly.
Where prices have deflatedFor example, prices have declined by about 5% for furniture and bedding and 3% for appliances since August 2023, according to CPI data.
Outside of supply-demand dynamics, the U.S. dollar's strength relative to other global currencies has also helped rein in prices for goods, economists said.
Airline fares have declined about 1% over the past year, according to CPI data.
Grocery prices have fallen for items such as apples, potatoes, ham, coffee, rice, seafood and bananas, according to CPI data.
Persons:
Stephen Brown, it's, Sarah House, They've, women's outerwear, Brown
Organizations:
North, Capital Economics, Finance, Social Security, Wells, Wells Fargo Economics, U.S, International Air Transport Association
Locations:
U.S, North America, Wells Fargo, China