Inflation Slows Nationally to .05 Percent in July, Down from .08 in June
SALISBURY, MD- The prices you pay for all your daily purchases look like they may be coming back down to pre-pandemic levels.
That’s based on a new report from the consumer price index that found inflation rose by .05 % in July, down from .08 % in June.
That means the price of goods like groceries, gas, cars, and lumber are starting to flatten according to the Dean of the Business School at Delaware State University Michael H Casson.
Casson told 47ABC he believes that as global supply chains starting having easier access to components that make up consumer goods.
He points to it as the start of a larger trend of inflation flattening.
“It is a trend of slowing down we see the market coming back into its equilibrium points,” he said adding “We are seeing a leveling of the economy where the economy is returning to pre-pandemic levels.”
He says while that is good news for small businesses, it’s important that those places don’t forget the message that they learned during the pandemic.
That the pivot they made to selling goods and services online can be a great way to add money coming in, even when people are coming in through the door.