The great inflation spike of the past three years is nearly spent — and economists credit American consumers for helping slay it.
Some of America’s largest companies, from Amazon to Disney to Yum Brands, say their customers are increasingly seeking cheaper alternative products and services, searching for bargains or just avoiding items they deem too expensive. Consumers aren’t cutting back enough to cause an economic downturn. Rather, economists say, they appear to be returning to pre-pandemic norms, when most companies felt they couldn’t raise prices very much without losing business.
The key to a healthy economy is one where consumers actually have money to spend.
I don’t know what these greedy executives thought they would get by raising prices to an untenable point, but surely they should have known it wouldn’t last forever, right?
This isn’t inflation, it’s a greed upcharge on the cost of goods. I’m glad that we’re finally seeing the effects of people standing up to it, but it’s long overdue.