Inflation Has Come Down, But High Prices Are Here to Stay

By Felix Richter – Statista

While progress in the fight against inflation has stalled in the past 12 months, the inflation rate has come down significantly from its peak in June 2022. In June 2024, year-over-year inflation slowed to 3.0 percent, while consumer prices actually declined for the first time since 2021 on a monthly basis. Looking at the steep decline of the inflation rate since then and hearing the talk about inflation cooling, a lot of people are probably thinking: “Great, inflation has come down, but when are prices going back to normal?”