When many less educated Americans hear this news, they will think that prices are going down.  But that is not true at all.  In fact, prices are still going up.  They are just going up at a slower rate than they were before.  According to the federal government, the Consumer Price Index was only 3 percent higher in June 2023 than it was in June 2022.  That sounds like pretty good news, but it is imperative to realize that the formula used for the Consumer Price Index has literally been changed dozens of times over the decades.  If the rate of inflation was still calculated the way that it was back in 1980, it would still be well into the double digits.

So we should be thankful that prices have moderated a bit (for now), but anyone that believes that inflation is "under control" is just being delusional.