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Inflation is Cooling, but are Consumers Convinced? Results from GFAPS

Author

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  • Ellison, Brenna
  • Kalaitzandonakes, Maria
  • Coppess, Jonathan

Abstract

Recent data from the U.S. Bureau of Labor Statistics (September 11, 2024) revealed that the rate of inflation continues to cool, with the 12-month inflation rate hitting its lowest level since February 2021. However, as the rate of inflation has slowed down, research continues to show that consumers are frustrated with high prices (e.g., see farmdoc daily, June 10, 2024). Indeed, inflation has become one of the most salient issues in the 2024 presidential election. In this post, we use data from the most recent wave (August 2024) of the Gardner Food and Agricultural Policy Survey to examine consumers’ views on inflation, including sub-analyses to analyze how views on the topic may vary by political party affiliation.

Suggested Citation

  • Ellison, Brenna & Kalaitzandonakes, Maria & Coppess, Jonathan, 2025. "Inflation is Cooling, but are Consumers Convinced? Results from GFAPS," farmdoc daily, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics, vol. 14(167).
    • Handle: RePEc:ags:illufd:358439
    DOI: 10.22004/ag.econ.358439
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