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Americans' refusal to keep paying higher prices may be dealing a final blow to US inflation spike (apnews.com)

submitted 3 months ago by MicroWave@lemmy.world to c/economics@lemmy.world

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The great inflation spike of the past three years is nearly spent — and economists credit American consumers for helping slay it.

Some of America’s largest companies, from Amazon to Disney to Yum Brands, say their customers are increasingly seeking cheaper alternative products and services, searching for bargains or just avoiding items they deem too expensive. Consumers aren’t cutting back enough to cause an economic downturn. Rather, economists say, they appear to be returning to pre-pandemic norms, when most companies felt they couldn’t raise prices very much without losing business.

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[–] 432@lemmy.world 12 points 3 months ago (3 children)

If you take public transportation instead of driving, there's a lot of industries you stick the finger to right there.

[–] Galapagon@sh.itjust.works 10 points 3 months ago (2 children)

I've tried taking public transport in my dense area with a developed network. It was slower AND more expensive than driving myself. I understand one or the other but not both worse options.

[–] BakedCatboy@lemmy.ml 6 points 3 months ago

I feel like your public transit agency has to be ripping people off for it to be more expensive than driving. Renting a parking spot cost us almost half of the unlimited transit pass, and repairing my car's AC could have paid for close to a year of passes. Not to mention gas and other routine maintenance (I would change my own oil but it's inaccessible without getting underneath, and my apartment complex has a rule against "repairs" in the parking lot which I'm sure lifting my car would count as).

Being slower is just par for the course in the US though so that doesn't surprise me.

[–] 432@lemmy.world -1 points 3 months ago* (last edited 3 months ago) (2 children)

Where is that?

In the US, your car insurance alone will far exceed the cost of a daily/weekly/monthly transit pass so I find that extremely hard to believe. For instance, in Dallas, a daily transit pass is $6 (there are cheaper passes for monthly or even yearly time frames), and in Houston a daily pass is $3.

[–] Galapagon@sh.itjust.works 5 points 3 months ago

I neglected to count my insurance as part of it since I wouldn't be able to get rid of my car entirely anyway

[–] SpaghettiYeti@lemmy.world 1 points 3 months ago* (last edited 3 months ago)

*Maybe in Texas regarding insurance being more than transit. When I lived there my car insurance was $160/no because of all the uninsured, dangerous drivers. And by those I mean Americans to be clear. I moved north and I'm paying $55/mo for insurance..

[–] Zorque@lemmy.world 2 points 3 months ago

The main one being the one I work for as I end up being an hour and a half late.

The public transit in my city is figurative ass :(

[–] TheIllustrativeMan@lemmy.world 1 points 3 months ago

There are zero (0) transit stops between where I live and where I work.

I considered taking the train to my last job, but like the other poster said, it was both slower and more expensive. Not to mention step 1 was drive to the nearest location, because walking for half an hour on a 4-lane divided highway where people do 70mph is not a great idea.

They could totally make mass transit work here, but you know, racism.