Retailers announce price cuts amid falling gas prices

An ASU economist discusses how retail and oil price reductions influence inflation and the impact on consumers.

In this story aired June 3, 2024, on Arizona PBS:

Prices are going to continue to moderate… expect interest rates will ease a little bit and inflation will come down. When we compare the little bump we had this spring with next spring's lower prices, I think inflation is going to be at or below the Fed's target here in Phoenix in January or February.

– Dennis Hoffman, professor of economics and director of the Seidman Research Institute