Falling Inflation Boosts Outlook, But High Prices Still Burden Many
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Inflation has fallen from 9% to 3.4%, boosting consumer sentiment and expectations for personal finances.
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Paychecks have outpaced inflation over the past year, easing adjustment to higher costs.
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Prices still nearly 17% higher than 3 years ago; goods like food and rent remain expensive burdens.
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Unemployment below 4% for nearly 2 years, longest stretch since 1960s; some optimistic about economy.
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Partisanship may limit how much public economic outlooks can improve as 2024 election approaches.