Inflation Reduction Act: Did It Reduce Inflation?

Inflation, as measured by the 12-month change in the Consumer Price Index, has fallen significantly since Joe Biden signed the Inflation Reduction Act in August 2022. However, most economists cite broader economic trends, rather than the bill, to explain the decline.

Chart: Investopedia / Diccon Hyatt Source: Bureau of Labor Statistics via Federal Reserve Economic Data
Investopedia