Slowing inflation usually means prices are rising, just not as fast as before. But now there is actual deflation.
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The U.S. Economy is taking Americans for a ride, interest rates hit a 23-year high at 8.34 percent on 30-year mortgages.
Federal Reserve chair Jerome Powell has met his match in the ongoing fight against inflation: skyrocketing oil costs.
Americans’ inflation-adjusted annual median income fell in 2022 to $74,580.