I’ve been hearing this nonsense again, along with the complaint: “I can’t afford to fill up my gas tank.”
Yes, we are in a changed situation from last year with over 5% Consumer Price Index inflation, but much of that is due to a short-term sharp spike in energy costs and another temporary spike in housing costs.
We also have a medium-term spike in shipping costs. The only large sticky inflationary increase is the uptick in wages — and most people are fine with that.