February 7, 2023

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Prices fall in the United States for the first time since the start of the corona epidemic  economy

Prices fall in the United States for the first time since the start of the corona epidemic economy

Prices of goods and services in the US fell slightly in December. On average, Americans lost 0.1 percent less than a month ago. This is the first time since May 2020, when the corona crisis broke out, that prices have fallen. Compared to the previous year, there was an increase in December (6.5 percent).

Among other things, fuel was cheaper last month, as were second-hand cars and trucks. Another factor is that many Americans have become more frugal. So stores have stocks like clothes and furniture. To get rid of those products even more, retailers are offering substantial discounts.

A year later, prices continue to rise, followed by a small drop. In the United States, inflation was the highest since the early 1980s. Prices rose sharply in the fall. For example, in November, there was a small plus of 0.1 percent compared to October.

To control inflation, the US central bank (Federal Reserve) raised interest rates sharply last year. A total of 4.25 percentage points were added at various steps. New increases may follow this year.

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