Why Consumers Are Still Mad About Inflation

Wall Street Journal: “One big reason: While economists and the Federal Reserve focus on inflation, which is the rate of change in prices, Americans in their everyday lives usually focus on the absolute price of the things they need and want.”

“On that front, prices for many items, though rising more slowly this year than last, remain well above their levels just before or at the onset of the Covid-19 pandemic and aren’t likely to return to where they were.”