this post was submitted on 11 Aug 2023
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US inflation cooling as consumer prices rise moderately again (www.reuters.com)
submitted 1 year ago by [email protected] to c/[email protected]
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Higher rents were mostly offset by declining costs of goods such as motor vehicles and furniture.

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[–] [email protected] 2 points 1 year ago (1 children)

In general, it has. That doesn't mean your boss gave you a raise, personally. That doesn't happen a whole lot in the grand scheme of things. But we've measured that as people have changed jobs, average wages have increased.

[–] [email protected] 4 points 1 year ago* (last edited 1 year ago) (1 children)

Then why are only non-essentials like furniture coming down in price? Seems to me that nobody's got any money to buy that stuff because everybody can barely afford rent and food, what with all the price gouging and wages not going up.

[–] [email protected] 2 points 1 year ago

Interest rates are high, and large purchases like furniture and vehicles are typically bought on credit. So what may have been a lower monthly payment with hardly any money going toward interest is now significantly more interest and a high enough monthly payment to make you reconsider the purchase.