Paul KrugmanOne thing I've been noticing in my correspondence is how many people think inflation is still running wild; the big deceleration in the 2nd half of 2022 hasn't broken through to public consciousness 1/
Several reasons for this. Too many media reports focus on yoy inflation, so miss the big turn. Traditional core inflation still reflecting rent increases from a year ago. And asymmetric reporting: breathless coverage of rising inflation, disinflation not so much 2/
John GordonAs a whole we are all still adjusting our behavior to price increases -- even if prices are stabilizing. That adjustment process will take months more.
For (privileged) us we eat out much less and take fewer US trips. Travel to lower cost destinations is likely to grow.
Bud Gibson@jgordon Plus, you’re recently retired.
@BudGibson Yeah! That does change decisions...