Expect Prices To Trend Downward For These Goods And Services

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Via Pixabay
Leslie Taylor-Grover
December 18, 2023

Inflation decreased 3.1% last month. This is less than half what it was at the beginning of the year. But this happened because the falling prices of some goods and services offset the rising prices of other goods and services. Which prices will likely continue to drop?

#1 Gasoline prices: As crude oil prices dropped, so did the cost of fueling up at the pump. These declining prices helped bring down inflation overall by countering rising home mortgage prices.

#2 Furniture and Appliances: these prices have dropped, and they are cheaper than they were last year at this time.

#3 Eggs: While the prices of eggs increased exponentially last year, prices have fallen over 20% this year.

While these drops in prices have encouraged consumers, experts still expect the Feds to exercise caution before making changes to interest rates.