Gas prices have fallen.
Demand by consumers over the summer, and the peak travel season was down as well. So we could get an August read of a negative CPI number.
Remember, these indexes, indices, are 12 monthly readings in a row. And you take the 1 from 12 months ago and you replace it with this one.
Government spending is about 20% of GDP.
Infrastructure Bill, aka the Inflation Reduction Act and the CHIPS Act were passed this year. But government spending is down about 12 to 15% and government spending is 20% of the overall gross domestic product.
This is known as fiscal drag. A fiscal drag on the economy, less spending at the moment. So if we currently have fiscal drag and we have inflation high, even if it's coming down but it stays high.