The new Consumer Price Index was released this week by the Bureau of Labor Statistics, and the results weren’t pretty. According to their report, the CPI-U went up 1.3% in June, beating out last month’s poor performance of an increase of 1% for May. While inflation continues to impact the average consumer’s wallet, not all indexes are feeling this heat. Interestingly enough, a handful of goods and services have even bucked the trend, seeing their prices go down in the last month. So next time you wince when filling up your gas tank, take solace in the fact that these items have seen their cost start to subside:
Televisions. With many new titles coming to streaming services like Hulu, HBO Max, and Paramount+, you might be thinking it’s time for a new TV. Considering the price of televisions fell by 2.3% compared to last month, big box retailers might agree with you. However, you may be able to get an even more competitive price if you’re able to hold off until about November, as television prices typically dip around then for Black Friday and Cyber Monday deals.
Bicycles. To those looking for an alternative to astronomical gas prices, I’m happy to report there is good news on the bicycle front. The price of two-wheelers have fallen by 0.6% compared to last month. You might have to learn a thing or two about bicycle maintenance, but it’ll be worth it for the sake of being able to travel cheaply and efficiently.
Smartphones. If you hate upgrading your smartphone but know that it’s inevitable, now is a solid time to pull the trigger. Not only has the price of smartphones fallen by 0.5% compared to last month, it has actually taken a 20% nosedive year-over-year. If you’re looking to stay within a certain budget, there is no shortage of smartphone options out there; just make sure you’re doing what you can to slash the total cost of this monthly expense.
Hotels and motels. Some desperately needed good news for those hoping to travel this summer; the price of hotels and motels has fallen by 3.3% compared to last month. After seeing an 11.5% year-over-year increase, consumers are finally seeing some relief in an industry that’s become the center of intense discussion following a public referendum on the usefulness and quality of Airbnb. Not only might you be happier in a hotel, but using the right tools, you can even save a decent chunk of change in one, too.
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Car and truck rental. A year after seeing such high demand leading to a car rental shortage, the price of acquiring a set of wheels from a rental agency has significantly cooled off. The price of car and truck rentals has fallen by 2.2% compared to last month, bringing the year-over-year price decrease to 7.5%. Even though the price of renting a car has lowered, there are still a handful of things you should do before leaving the lot to make sure you don’t get hit with any wrongful fees.
Airline fare. After seeing a truly heinous year of price increases, the cost of airline fare is finally beginning to subside. Compared to last month, the price of purchasing an airline ticket has gone down by 1.8%, bringing some desperately needed relief to an industry that saw its prices rise 34.1% year-over-year. Not only are prices falling, but Southwest Airlines is even giving money back to customers who’ve seen the price of their flight go down.
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