Whether it’s at the pump or the grocery store, Americans are experiencing record highs, with inflation increasing 9.1%.
Economists at the University of Pennsylvania’s Wharton Business School found that the average household is spending $3,500 more to buy the same amount of goods and services they did in 2000.
According to Forbes, two-thirds of Americans say they’re less comfortable making household purchases now than they were six months ago.
But did you know some prices are dropping?
If you’re in the market for electronics, now is the time to buy. Prices for iPhone, Google Pixels and the Samsung Galaxies are down by more than 15%. Seventy-one percent of TVs are being sold on sale.
Now is the time to enjoy sporting events. Ticket prices overall have dropped up to 50% in the last six months.
The cost of men’s suits, sport coats and outerwear has fallen 7% in the past 12 months. Women’s apparel has also decreased almost 6% in the last year.
Don’t forget Fido. The demand for pet supplies skyrocketed during the pandemic and now, prices for pets and pet products are almost 4% lower than they were during the pandemic.
The good news, experts predict for most of these items, prices will continue to drop for the next few months.