Everything feels more expensive right now, and that’s because it is. Despite a notable decline from its peak of 9.1 percent in June 2022, inflation remains higher than the Federal Reserve's 2 percent target.
Since January 2021, prices have surged by an astonishing 17.6 percent. Grocery prices today are 21 percent higher than in January 2021, and while gas prices will tick down this summer, they’re still 10 percent higher than they were three years ago. Ask frequent flyers, and they’ll...