CNN’s Quest: We’re ‘Paying a Lot More’ and ‘Prices Are Still Going Up’ and Won’t Drop

On Friday’s broadcast of “CNN News Central,” CNN Business Editor-at-Large and CNN International Business Correspondent Richard Quest noted that the decrease in the rate of inflation doesn’t mean prices are falling, and “Prices are still going up. They’re just not going up as fast” as they were before, and that even with decreases in the rate of inflation, you’re still “paying a lot more.” Quest also stated that while he thinks price increases will ease, “you won’t see” prices “coming down.”

Co-host Kate Bolduan asked, “Why does inflation still feel so high when we’re going to the grocery store then? We’re seeing this [the July jobs report]. It needs to — we need to — this needs to start moving into the realm of inflation is getting back down to earth.”

Quest responded, “A very good question. Do not mistake falling prices for a falling rate of inflation. Prices are still going up. They’re just not going up as fast or as far…all that’s happening is that they’re not going up as fast, but you’ve still gained — or are paying a lot more. You’ll start to see an easing of prices, you won’t see them coming down.”