Historical data suggests the key factor in bringing down prices is a slowdown in consumer spending. Despite nearly half of Americans reporting feeling in a worse financial situation than five years ago, they’re still spending. Retail sales were up 2.1% year over year in the first quarter of this year and consumer spending jumped in February and March. Watch the video above to learn more about why prices will likely remain high.
Chapters:
0:00 Introduction
1:04 Why everything is more expensive
3:57 Statistics vs. experience
9:21 Why prices likely won’t go down
Produced by: Charlotte Morabito
Edited by: Carlos Waters
Animation: Jason Reginato
Additional Camera: Zac Staffiere
Supervising Producer: Lindsey Jacobson
Additional Footage: Getty Images
Additional Sources: Bankrate, Bureau of Labor Statistics, Federal Reserve Bank of St. Louis, U.S. Census Bureau, Groundwork Collaborative
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Why Prices Might Never Go Back Down
