Posted on 12/06/2023 5:56:59 PM PST by matt04
Even though inflation is still higher than ideal, many things are actually getting cheaper. But perhaps not the ones most Americans want.
The prices of durable goods, meaning long-lasting items such as used cars or appliances, have fallen year-over-year for each of the past five months. Data released Thursday by the Commerce Department showed prices for such goods were down 2.2% in October compared with the year prior.
Some economists estimate the fall in goods prices could bring inflation back to the Federal Reserve's 2% target by as early as the second half of 2024. One inflation gauge, the personal consumption expenditures price index, has fallen to 3% since peaking at more than 7% in July 2022, partly due to declines in durable goods prices.
In fact, The Wall Street Journal reported that Morgan Stanley economists believed inflation could fall to 1.8% by next September, though some Fed officials are more cautious.
But even though durable goods prices are expected to keep falling over the next few months, changing buying habits mean many Americans' wallets could still feel the heat from inflation. Shoppers continue to spend more on experiences such as trips abroad, museums, and concerts while limiting purchases of goods such as new vehicles, clothing, and furniture.
...
To be sure, most items Americans are purchasing daily are still inflating. While many items are getting more expensive at a slower rate than a few months ago, prices for groceries, car insurance, and "fun" activities such as sporting events and concerts are all still increasing monthly.
(Excerpt) Read more at businessinsider.com ...
I think the price of appliances has fallen due to a near-collapse of the home building market, the result of higher interest rates.
My gravy mix went back to a dollar from $1.25.
Hooray... I can buy a used blender or dryer at a garage sale!
Also, if you are paying nearly double for groceries, replacing appliances unless they break, replacing them just to have something new isn’t high on your list.
Cheaper than their all time high?
Big deal.
Not for everyday necessities, but bigger ticket items maybe.
If Pravda could have churned out propaganda this good the Soviet Union would have lasted longer; another six weeks.
Goes up 40%, then goes down 5% = cheaper than you think!
If you cars go up 30%, than sink back 5%, that is small consolation if your paycheck stayed the same.
I recently paid $3,700 for a 2004 Chevy Venture with 165,000 miles and nuisance issues. The same vehicle would have been $2,500 only a few years ago.
It is about damn time my trip to the “Museum” went down!
Good news. Other people's worn out durable goods are cheaper now.
Things that I buy frequently are much more expensive. Food. Pharmacy items. Unavoidable expenditures have gone up. Electricity. Water. Car repairs. Internet access. Medical insurance. Doctor visits.
If the article were honest it would mention those things.
Bi=BS
Ah yes good old leftist Business Insider. Their latest gaslighting effort.
Price of 5.7 x 28mm ammunition has gone down a lot, from $0.80 a round in January 2023 to $0.51 a round since April.
Fiocchi starting to manufacture 5.7 x 28mm rounds in the USA this year had a lot to do with it.
Raise minimum wage to 20 bucks that’ll f-x it ~
Reminds me of a phrase used extensively in the past generation, “polishing a turd...”
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