"Rising Prices: How Consumers Are Fighting Back and Winning"

Consumers are pushing back against price increases by shifting to store-brand items, discount stores, and used cars, leading to a slowdown in inflation. Large food companies have responded by slowing their price increases, and President Biden has made public frustration with prices a central issue in his re-election campaign. Fed officials expect inflation to fall back to their 2% annual target, citing consumers' growing reluctance to pay high prices as a key reason.