3.4%
As a result, by December 2023 consumers were seeing prices that were on average

about 19% higher than they were before the pandemic in December 2019, as measured

using the CPI-U. However, the rate of increase of prices had slowed dramatically to

3.4% by December of 2023.Feb 12, 2024https://povetytorich.com

Add another 3% or more for for 2024 and you have 22% price increase on average.

This does not account interest rates doubling, homes prices increasing, food

prices increasing, rent has increase more than the 22%.

Yes, the Federal Reserve shouldn’t cut interest rates in May 2024 but should

increase the rates by 25 basis points. This would be good new to the consumers

whom are worried about even higher prices in the latter part