Is inflation going to go down?

Question

The article claims that consumer's inflation is set to decrease since March 2021

Answer 1

This seems to be true.

According to NerdWallet, it is reported that inflation is set to sink close to the desired 2%. "A September CNBC survey of analysts, economists and fund managers reveals that most believe that by 2024 inflation will have sunk close to the Fed's 2% target."

Another report by NBC News explains that we are on a slow decline of price levels, but it is still going to be difficult to revert to pre-pandemic levels. "And while economists say the prices of some goods and services have started to retreat from their post-pandemic highs, the U.S. is unlikely to return to pre-pandemic price levels — what some may think of as "normal" prices — any time soon."

Sources:

https://www.nerdwallet.com/article/finance/timeline-for-lower-prices-and-rates

https://www.nbcnews.com/business/economy/inflation-rate-july-2023-how-high-low-will-interest-rates-rise-again-rcna99015

Comments

I thought it was important you included the caveat that it would be difficult to get to pre-pandemic levels, as I think that is something people would care about.

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I like the way you responded to this. Using multiple sources, and "pre-pandemic pricing" as a way for people to understand the level of cost was really smart.

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I like how you supported your claim with two sources. Nerd Wallet covers financial news so they were a great source to add on to that NBC article. I also liked how you were able to elaborate that prices won't go down to what we thought as normal.