Inflation dropped from 9.1% in 2022 to 3% one year later

Inflation dropped from a peak of 9.1% in 2022 to 3% one year later.

Source U.S. Bureau of Labor Statistics.

The reason people feel harmed by this inflation is that whatever prices things are they are NOT ever likely going to go down only up from here on. There is an average inflation rate (over time like 50 years) of around 4% which is normal. Sometimes inflation is lower than this and some times it is higher but it is basically universal here in the U.S. at least. So, expecting food or rent prices to go down is unrealistic and it was ALWAYS unrealistic.

Part of the reason for this is global Climate changes are making food cost more worldwide. So, if you can afford to feed yourself at all then you are better off than about 1/2 of the people on earth right now who are close to starving or starving basically every day.

I expect to see food prices go up in extreme ways as each new serious weather event destroys crops worldwide in one way or another.

The good news is that All crops on earth won't be destroyed at the same time. So, if you live in wealthier cultures you will be able to buy food from countries whose crops haven't been destroyed over time. However, the people in countries who cannot afford to buy from other countries will likely starve more over time especially in most 3rd world nations.

So, the primary thing that will take whole 3rd world cultures out is likely going to be starvation more than any other one reason.