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Durable goods — many of them cheap imports — have been the only category that helped slow price growth.
Others doubt that the discount shops will achieve any more than past efforts to spur competition and slow price rises that have run at double the inflation rate.
He hoped to slow price increases through a combination of a budget surplus, brought about when a Johnson-era tax surcharge was extended, and tighter monetary policy by the Fed, which would rein in speculation by the stock market and wage demands by unions.
Economists and housing experts broadly agree the changes will slow price increases in expensive housing markets — though nobody expects housing values to decline, given the overall strength of the economy and the fact that there are relatively few houses for sale in top markets.
Last week the central bank raised interest rates for the first time in two years in an attempt to slow price growth.
Inflation has proved a persistent issue and interest rates have been raised 13 times since March 2010 in a an effort to slow price increases.
Similar(51)
Even if demand itself does not slow, prices are falling.
"From everything we're seeing out on the street, the fourth quarter report will slow prices down across the board in every neighborhood," Mr. Signet said.
Still, Ms. Vassell said she was aware that the downturn had a grim side: sales will slow, prices will fall, jobs and galleries may vanish.
But late last year, his increasingly restrictive measures slowed price gains.
That requires slower price and wage growth or faster productivity growth than elsewhere.
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