However, prices for many physical goods have deflated as supply-and-demand dynamics return to normal following pandemic-era contortions.
"Outside of goods prices, I don't think we'll see price cuts," said Mark Zandi, chief economist at Moody's.
That served to weaken demand, which also pushed down prices, economists said.
Outside of supply-demand dynamics, the U.S. dollar's strength relative to other global currencies has also helped rein in prices for imported goods, economists said.
Energy, food and consumer electronicsOutside of imported goods, consumers may also see a "normalization" of prices in food and energy, Zandi said.
Persons:
Jeff Greenberg, Mark Zandi, Zandi, women's outerwear, Sarah House
Organizations:
Universal, Getty, Finance, Social Security, Vehicles, Wells, Wells Fargo Economics ., U.S . Federal, Fed, U.S, Energy
Locations:
Wells Fargo, U.S