A lot of things are getting cheaper. Here's why you probably haven't noticed.

BusinessInsider.com ^

[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.

[cableguymn]

Car prices are dropping because no one is buying them. Because they can’t afford them.

[spincaster]

Apparently you haven’t gone to the grocery store lately. Where 4 lbs of butter for Christmas cookies is now $15.00.

[Mr Radical]

old Soviet joke:
Russkie sits next to American on a plane: “I’m visiting the West to study your propaganda methods.”
American: “We don’t have propaganda in the West.”
Russkie: “There you go!”

[GailA]

Thank God, most of our appliances are plain ones, with no chips, and Hub can repair most of them. Even some of the newer ones, Avionics/Electronics have been his field for 40 years. Plus he’s a good backyard mechanic. The only thing he doesn’t fix is new Paint on our walls. 15 years of the wrong paint, the same color that isn’t washable.

An attic with popcorn tins of diodes, and transistors, from where he took old units apart.

[kickstart]

It is like the stock market. The market went up 25% last week. A new record! (But it went down 40% the month before)

Prices are down 2%. (After going up 50% the previous year)

[Texas resident]

I used to feed 5 people for the cost that takes to feed 2 today. Build back worse.

[absalom01]

The media are in lock-step trying to convince people that Biden’s economy isn’t as bad as their own eyes and wallets are telling them.

We should expect more of this same nonsense as people start paying attention to the election season, but it sure doesn’t seem to be working.

You can bet that Trump will be hammering the economy after he sews up the nomination.

[matt04]

I had to run to the grocery store yesterday to grab a few items I forgot. On top of now having to pay $.10 for a paper bag, I filled barely half the bag and spent $23. I didn’t really buy anything prepared just an essentials like eggs, bread, some produce, etc.