With prices going up everywhere, it’s easy to overlook things that have actually gotten cheaper over time. This article highlights ten items that have bucked the trend, becoming cheaper despite inflationary pressures. Let’s discover these budget-friendly surprises in our costly world.
Between 2023 and 2024, the price of regular gasoline decreased by $0.13 per gallon, and the cost of diesel fell by $0.55 per gallon. The U.S. Energy Information Administration expects this trend to continue. Now might be the ideal time to plan that road trip.
In 2022, the U.S. experienced the most lethal bird flu outbreak in its history, which led to a record hike in the price of eggs. As per a report by CNBC, there was another 8.9% price increase from November to December 2023. However, there’s a silver lining for egg enthusiasts as egg prices are predicted to see the most significant decrease in 2024, with a substantial drop of 14.7%.
Appliance prices have been dropping every month after all the supply chain disruptions during the pandemic and are expected to keep going down in 2024. So, if you’ve been thinking about getting some new stuff for your home, now’s a sweet time. Prices for big appliances have gone down by 10%. If you need new laundry gear, you’re in luck – those prices have dipped by 12%.
Mobile Phone Service
Even though the price of pretty much everything is going up, our mobile plans are actually getting cheaper. If you’re not stuck in a contract, you’ve probably noticed your cell phone bill is less than it was last year. Wireless phone services have gotten 2.8% cheaper.
The cost of solar power has been on a downward trend, driven by advancements in manufacturing processes, expansion of plant sizes, and the introduction of economic incentives.
Over the past decade, from 2009 to 2019, the price of solar equipment has plummeted by 89%. This trend is expected to continue, with solar prices projected to keep falling through the year 2050.
Here’s a bit of sunshine for all you globetrotters out there, flying is a lot less expensive now than it was at the same time last year. In fact, ticket prices were 9.4% lower just the previous month compared to the same month in 2022.
If we rewind a bit further, they’re 3.6% cheaper than what we saw in December 2019, before the world went into lockdown. This info comes straight from the latest Consumer Price Index data, released in January 2024 and based on the prices from December 2023.
Car prices have been dropping for a while. New car prices increased a little (1%) in December, but used car prices are down 1.3% from last year. This is because pandemic-related problems are over, so more cars are available to buy. Car prices went down in 2023, and this trend is expected to continue in 2024. Moody’s thinks new car prices will drop a bit less than 5%, and used car prices will fall about 8% in 2024.
Before the pandemic hit, most of us were hitting the gym regularly. When the gyms had to shut down, we started working out at home, using fitness apps. A CNBC survey revealed that nearly half of the gym members did not intend to renew their memberships after the pandemic. In response to this shift, renowned gyms like Planet Fitness and Gold’s Gym have begun offering complimentary on-demand workout sessions.
Many of us decided to redecorate during the pandemic, which boosted the price of furniture. The demand for furniture has subsided since. According to Furniture Today Strategic Insights, there was a 3.2% drop in furniture store sales. With the lower demand, the prices have slowly started to trend down, falling 4.3% over the past year, according to the CPI.
The food prices have been decreasing over the last few months and will continue to do so in 2024. However, consumers may not feel the impact because these prices are falling from record highs. The USDA anticipates a 0.6 percent decrease in grocery store prices in 2024.