Didn't hear about inflation: 7 goods in the USA that fell in price this summer
Inflation has become an undesirable phenomenon in many favorite stores. But while we watch with concern the rise in prices of many goods, the value of other goods is falling. The publication told about 7 such products. Money Talks News.
Believe it or not, some products have become cheaper over the past year. Below are some of the products that quietly and unexpectedly became more affordable between June 2020 and June 2021. They all fell more than 6% in the price index over that 12-month period.
By comparison, from June 2020 to June 2021, the price index as a whole rose by 5,4% - the largest increase in 12 months since August 2008.
7. Medical equipment and supplies
- Change in price index from June 2020 to June 2021: decrease by 6,3%
At a time when problems with the global supply chain are driving up the prices of goods such as cars, medical equipment and consumables are the exception to the rule.
But it's worth noting that prices rose sharply during the pandemic - according to some reports, a pack of 100 gloves, which cost $ 2,39 in early 2020, was worth $ 30 by this spring.
6. Health insurance
- Change in price index from June 2020 to June 2021: decrease by 6,9%
Health insurance is probably the last thing you expect to see on this list. After all, we all know that the cost of healthcare is spiraling out of control.
As crazy as it sounds, health insurance costs are falling. In fact, research from the Urban Institute shows that prices fell by:
- 1,2% from 2018 to 2019
- 3,2% from 2019 to 2020
- 1,7% from 2020 to 2021
As with medicines, these prices are falling from very high levels, so the decline may not be obvious to everyone. But at least the trend is heading in the right direction.
5. Men's suits, sports jackets and outerwear
- Change in price index from June 2020 to June 2021: decrease by 7%
Who said you have to pay a fortune to look good? The cost of things that help you look fashionable goes down, at least for men.
This shouldn't come as a surprise, as 2020 was the year that workers, who usually wore suits to the office, stayed at home and attended Zoom meetings in their pajamas. Falling clothing prices are just the good old law of supply and demand.
4. Tickets for sporting events
- Change in price index from June 2020 to June 2021: decrease by 7,2%
The era of the pandemic was a tough time for sports. Empty stadiums and arenas, as well as falling TV ratings, suggest that the US love for its favorite games may have cooled a bit.
But instead of giving up and heading home, sports franchises are in a rush to lure fans back by cutting ticket prices.
3. Raw ground beef
- Change in price index from June 2020 to June 2021: decrease by 8,4%
It is understandable that it is difficult to accept claims of falling meat prices. More recently, on Memorial Day, shoppers complained about rising prices for their favorite foods.
But meat prices are notoriously volatile, and yesterday's expensive burger can quickly turn into a discount today.
You may be interested in: top New York news, stories of our immigrants and helpful tips about life in the Big Apple - read it all on ForumDaily New York.
2. Telephone equipment, calculators
- Change in price index from June 2020 to June 2021: decrease by 17,8%
What would be without a reliable phone? Fortunately, there is no need to find out, as telephone equipment is relatively cheap these days.
Telecommunications equipment prices have reportedly been steadily declining. Thank the competition, which forces companies to lower their costs by offering customers better deals.
1. Meals at workplaces and schools
- Change in price index from June 2020 to June 2021: decrease by 29,9%
The cost of food in workplaces and schools fell sharply, which brought this item to the first place.
As with the fall in ground beef prices, this is a bit confusing.
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