Americans' refusal to keep paying higher prices may be dealing a final blow to US inflation spike
A shopper peruses cheese offerings at a Target store on Oct. 4, 2023, in Sheridan, Colo. (AP Photo/David Zalubowski, File)
WASHINGTON (AP) — The great inflation spike of the past three years is nearly spent — and economists credit American consumers for helping slay it.
Some of America's largest companies, from Amazon to Disney to Yum Brands, say their customers are increasingly seeking cheaper alternative products and services, searching for bargains or just avoiding items they deem too expensive. Consumers aren't cutting back enough to cause an economic downturn. Rather, economists say, they appear to be returning to pre-pandemic norms, when most companies felt they couldn't raise prices very much without losing business.
CONTINUE READING THIS ARTICLE
You have read all of your free articles this month. Select a plan below to start your subscription today.
Already a subscriber? Login
