Inflation slowed to 3.4%. Prices are still up more than 30% since 2019. Both are true.
Inflation slowed to 3.4% in August from a 9% peak in 2022, but slower inflation does not bring prices back: they are up more than 30% since the start of 2019, and a pound of steak that cost about $8 in 2019 now costs nearly $13.
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What Years Of Inflation Did To American Prices
The New York Times · Sep 16, 2026
