Is this article from The Onion? What a load of BS! While the rate of inflation has (allegedly) declined, that doesn’t mean that price levels have declined from those existing at the time when Slow began his occupation of the White House.
The phenomenon he describes is alive and real. I hear the conversations from the business owners.
I’ve heard too many versions of the following:
“Yes, my raw materials prices declined by 40% but I am not going to lower my prices. It’s been proven customers will pay the higher prices and I like these profits.”