Graphic Truth: Turkey is cheaper, but inflation still gobbles

One thing to be grateful for this US Thanksgiving is that a turkey dinner for 10 people has gotten cheaper for the third year in a row. That’s in line with a broader trend in which US inflation has cooled since hitting a 40 year peak back in 2022. But nearly 65% of Americans are still upset about rising prices, according to a recent Pew Research Poll. How to reconcile those two things? Look at the big picture. Americans have just been through the most inflationary five-year period since Madonna’s “Like a Virgin” topped the charts. That’s what shapes people’s perceptions, more than year-to-year data. And remember, even if inflation is only around 3%, that still means prices are only going in one direction: up. Here’s a look at the data – discuss it at the table!