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U.S. inflation falls to 3%, lowest level in more than 2 years, as price pressures ease
(www.politico.com)
this post was submitted on 13 Jul 2023
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I suppose you can point that out, but it's worth saying that the deflation that'd be required to decrease prices would be way more catastrophic than the semi high inflation we experienced. With deflation people are encouraged to keep their money in the bank instead of investing or spending, which means businesses lose profits and banks become more hesitant to lend, which means businesses fail and lay off workers, which means less consumer spending and investing and so on. Deflation leads to the economy collapsing while modest inflation leads to economic growth.