The popularity of value meals at fast food restaurants points to a major reason that inflation has fallen in recent months.
by Diccon Hyatt
Investopedia
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If you want to understand why prices for many things aren’t rising as fast as they were a couple years ago, a good place to start would be the drive-thru.
That’s according to one of the officials at the Federal Reserve who sets the nation’s monetary policy to keep inflation under control. In a speech Wednesday, Tom Barkin, president of the Federal Reserve Bank of Richmond, said the habits of McDonald’s customers showed why inflation continues to fall.
“Consumers are driving this drop,” Barkin said in remarks at an economic conference in Wilmington, North Carolina. “Frustrated by high prices, they have become increasingly price conscious.”