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And it is also far off from where it stood in May 2020: 0.1%.
Here is what experts had to say about it.
Also see how the presidential candidates might affect inflation.
That is economic growth.
And many consumers believe a misconception that lower inflation means prices will roll back to 2019 levels.
As Rossman explained, lower inflation simply means prices are growing more slowly.
The real key here is wage growth, Rossman said.
Wage growth has been outpacing inflation in recent months.
Thats what we need to see more of.
However, true savings will depend on wages more than inflation, he said.
Currently wage growth is outpacing inflation by roughly 0.5% and has been for the last two years.
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