Inflation may be starting to ease, says insider

Apr 12, 2022, 4:15 PM
Inflation caused gas to skyrocket....
The price of diesel fuel is $5.24 per gallon at a Sinclair in Salt Lake City on Monday, April 11, 2022. Photo credit: Mengshin Lin, Deseret News.

SALT LAKE CITY — Americans haven’t felt the same bite of inflation they feel today since 1981, but an investing and financial insider says rising prices nationwide are starting to subside. 

Welcome to the show

ABC News correspondent Caleb Silver and editor in chief of Investopedia joined KSL NewsRadio’s Dave Noriega and Debbie Dujanovic to discuss inflation and what lies ahead.

Silver said the rise of inflation is starting to crest.

“So what makes you think that we’ve hit the worst and that the worst is not yet to come?” Dave asked.

Silver said gas prices are starting to dip: The average price nationwide a month ago was $4.326, but today it’s $4.098, according to AAA.

New –and used– car prices and air travel are starting to come down, he said.

The Federal Reserve is raising interest rates to slow inflation.

“Inflation is too high and getting inflation down is going to be our most important task,” said Fed governor Lael Brainard, who is awaiting Senate confirmation to serve as the Fed’s vice chairwoman, as reported by the Wall Street Journal. 

But raising interest rates too fast can freeze the economy and send it into a recession.

“It’s a very fine line The Fed has to walk there because if you raise them too much too fast… that would make consumers want to hold back on spending, that would make businesses rethink hiring, rethink expansion plans,” Silver said.

Inflation costs Utahns an extra $700 a month

Due to a combination of higher inflation rates and higher average household spending, inflation is imposing the greatest monthly costs on families in Washington, DC ($780), Colorado ($724) and Utah ($702), according to the United States Senate Joint Economic Committee.

“When you look at wages, you know you could go into your boss and beg for days. That wage increase is not going to keep up with $700 a month inflation,” Debbie said.

“Absolutely not,” Silver said. “For the first time in really 20 years, we’ve seen finally some wage inflation here, but it’s not keeping up with overall inflation.”

Silver predicted the rate of inflation will drop to 3.7% over the next three years.

“That’s still a lot higher than the Federal Reserve wants… but that’s a lot lower than we are now.”

Related: Economy is healthy except for inflation, which will come down, says finance expert

Dave & Dujanovic can be heard weekdays from 9 a.m. to noon. on KSL NewsRadio. Users can find the show on the KSL NewsRadio website and app, as well as Apple Podcasts and Google Play.  

Dave & Dujanovic

emergency kits are a vital part of preparedness for families...
Curt Gresseth

How families should prepare for an emergency at home or away

Do you have an emergency reunification plan ready for your loved ones? Two experts share tips on what to do when disaster strikes while at home or away.
2 months ago
Cherie Wood...
Curt Gresseth

South Salt Lake mayor defends new $130,000 salary

The mayor of South Salt Lake defended her latest salary of $130,000 by saying she hasn't received a pay raise in 11 years in office.
2 months ago
South Salt Lake at Southern X-posure, the site of a deadly shooting....
Curt Gresseth

South Salt Lake resident wants to stop mayor and City Council from awarding themselves raises

A South Salt Lake resident has taken his ballot initiative on pay raises for city leaders to the Utah Supreme Court after being rebuffed by the city attorney on what he said was a technicality.
2 months ago
Connerjack Oswalt was found in Park City, Utah after being missing from California years ago. (CNN)...
Curt Gresseth

Missing three years, autistic teen found in Park City

An autistic teen missing from northern California since 2019 was found by sheriff's deputies in Summit County, Utah. He has since been reunited with his stepfather.
2 months ago
Debbie busts inflation by buying consigned clothes....
Debbie Dujanovic

Dujanovic: Battling inflation like it’s 1981

Inflation has Debbie Dujanovic budgeting like it's 1981. She has tips on how to battle inflation and save your wallet some tears.
2 months ago
Devin Oldroyd

Utah wants your help redesigning the state flag by April 30

MILLCREEK, Utah — Utah residents have until April 30 to submit their ideas for a redesign of the Utah state flag.  According to a press release from the Utah Department of Cultural and Community Engagement, Gov. Spencer J. Cox launched the “More than a Flag” effort in January. The effort is part of a statewide […]
2 months ago

Sponsored Articles

Prescription opioid...
Know Your Script

Prescription opioid misuse | How to protect your family from the opioid epidemic

Studies have shown that prescription opioid misuse has increased since COVID-19. So what do you need to know about these opioids?

Tax Tuesday: The Most Common Mistakes People Make When Filing Their Taxes

Fortunately, for most average earners, they will not end up owing overpayments received for the Child Tax Credit in 2021.

Tax Tuesday: How will last year’s child tax credits affect you?

Fortunately, for most average earners, they will not end up owing overpayments received for the Child Tax Credit in 2021.

Tax Tuesday: Key Information Before the Filing Deadline

Businesses can receive a credit of up to $5,000 per employee in 2020 and up to $21,000 per employee in 2021.
national heart month...
Intermountain Healthcare

National Heart Month: 5 Lifestyle Changes to Make Today to Keep You Heart Healthy

Heart disease is the leading cause of death for both men and women. One person dies every 36 seconds in the United States from cardiovascular disease
Joseph Smith Memorial Building...
Temple Square

The Joseph Smith Memorial Building is an icon of Salt Lake City | Why hosting an event at this beautiful location will make you a hero this year

Here's why hosting an event at the iconic Joseph Smith Memorial Building in downtown Salt Lake City will make you a hero this year.
Inflation may be starting to ease, says insider