Who wouldnt like prices to start falling? Careful what you wish for, economists say | KLRT [Video]

WASHINGTON (AP) — Many Americans are in a sour mood about the economy for one main reason: Prices feel too high.

Maybe they’re not rising as fast as they had been, but average prices are still painfully above where they were three years ago. And they’re mostly heading higher still.

Consider a 2-liter bottle of soda: In February 2021, before inflation began heating up, it cost an average of $1.67 in supermarkets across America. Three years later? That bottle is going for $2.25 — a 35% increase.

Or egg prices. They soared in 2022, then fell back down. Yet they’re still 43% higher than they were three years ago.

Likewise, the average used-car price: It rocketed from roughly $23,000 in February 2021 to $31,000 in April 2022. By last month, the average was down to $26,752. But that’s still up 16% from February 2021.

Wouldn’t it be great if prices …