Inflation has been a major concern for Americans and people around the world as prices for goods and services have skyrocketed. But there is a glimmer of hope on the horizon: recent trends indicate that inflation may finally be starting to decline.

One of the most visible signs of inflation has been the rise in home prices. In many parts of the country, home prices have been increasing at a double-digit pace. However, a recent report from Zillow suggests that the tide may be turning. Home prices in 20 major cities declined by an average of 2.4% in January 2023 compared to December 2022, signaling a potential shift in the market.

Another sign of declining inflation is the recent drop in rent prices. According to a report from Apartment List, rent prices in the United States declined by 0.4% in February 2023 compared to January 2023. This marks the first time that rent prices have declined on a monthly basis since June 2020.

Finally, car prices have also started to decline. Kelley Blue Book reports that the average price of a new car in the United States declined by 2.4% in February 2023 compared to January 2023. This is the first time that the average price of a new car has declined on a monthly basis since November 2020.

These trends could be, in part, due to the Federal Reserve’s decision to increase interest rates. While this move was primarily part of an economic war being waged against the working class by the billionaire class to lower wages and drive up unemployment, some argue that it has also incidentally led to lower costs for housing and transportation.

Photo by Viacheslav Bublyk on Unsplash