(NewsNation) — Inflation’s grip on the new year may remain strong, but some relief could push the U.S. economy back in the green.
Inflation burned a hole in the pockets of many Americans this year, fueling concerns of how people can continue to afford everyday items.
Gas prices, for example, rose to the highest level in decades, but GasBuddy predicts that drivers could spend less in 2023 compared to this year.
Meanwhile, the housing market is expected to cool off even more in 2023. Analysts believe it will not be a buyer or a seller’s market.
Could America’s inflation fever be breaking at last? In the video above, Dan Roccato, a finance professor at the University of San Diego, speaks about inflation, gas prices and mortgage rates.