Inflation has hit a new high, the highest it has been in 40 years.
However, there are some items that have gotten cheaper.
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Why is inflation so high right now?
The April Consumer Price Index calculated that inflation had increased 8.3% in the last year for things like gas, utilities, housing, and other goods. Meanwhile, the price of food has seen a 9.4% increase. Find additional details here.
Initially, it was thought that inflation would level off. However, the Russian invasion of Ukraine has sent prices even higher. Although inflation is high now, it is temporary.
What is getting cheaper?
The Consumer Price index found that smart phones have fallen 16.1% in price since last year. The price of books have dropped along with some other items such as:
- Girls apparel: -4.3%
- Ship fare: -2.1%
- Cosmetics: -1.7%
- Tenants and household insurance: -1.7%
- Men’s pants and shorts: -0.8%
If you’re looking to buy a TV, the prices on those are dropping too. Start looking in fall into early winter to get the best deal. This is typically when there are sales to make room for new models. Over the last year costs have dropped 5.8%.
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