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The Bureau of Labor Statistics released their monthly Consumer Price Index (CPI) on Wednesday, May 10, and there may finally be some relief from skyrocketing inflation — at least for certain goods.
According to the CPI report, inflation is actually up 4.9% from April 2022, but that’s actually the lowest year-to-year increase since May 2021. (Small consolation, no?)
But is everything more expensive? Actually, no! Prices on some items and services have been getting cheaper since 2022, when Americans felt some serious wallops to their wallets. Here are 11 goods and services you can expect to pay at least somewhat less for now than you may have a year ago (or even a month ago).
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Bringing home the bacon is getting cheaper at last. Not that long ago meat prices were bonkers, but now, we’ve seen bacon prices drop 8.9% year over year since April 2022 (and 0.9% between March and April 2023).
Save with Bacon coupons on KCL
Tomato prices are getting cheaper. We’re paying 1.8% less year over year since April 2022, and since we saw a month-to-month price drop of 3% (March to April 2023), it looks like that trend will continue. BLT, anyone?
Did you know you can freeze citrus?
3. Citrus Fruits
Although citrus fruit prices rose slightly between March and April 2023 (1.3%), overall prices are down 5.4% from April 2022 to April 2023.
Did you know you can freeze citrus?
The price of computers dropped 5.1% since this time last year. This also includes smart home assistants (think of Amazon’s Alexa and Google Assistant). These items dropped in price 1.3% in one month (between March and April 2023). Computers are getting cheaper? Fantastic.
We can do even better than 5.1% off with our computer deals.
5. Major Appliances
If you’re in the market for a major appliance — think washing machines, dryers, refrigerators, stoves, ovens, dishwashers — you may have been wise to wait until 2023, because prices have dropped a whopping 10.4% since last April. (Prices dropped 2.1% just between March and April 2023!)
And those prices can be even lower with our tips on how to save on appliances.
6. Vehicle Rentals
Road trip, anyone? Car and truck rental prices have dropped by 11.2% since April 2022. And even between March and April 2023, we saw rental prices tick down 0.2%.
We’ll help you spend less on rental cars.
7. Health Insurance
While the American healthcare system is still incredibly more expensive than most of the developed world, health insurance did reduce in price by a massive 15.8% since April 2022. Prices dropped 3.8% alone between March and April 2023.
For millions of people, Amazon One Medical could be even cheaper than traditional health insurance. Same goes for Mark Cuban Cost Plus Drugs when it comes to prescriptions.
8. Sports Tickets
If you haven’t been to a ball game in a while, this season may be a good time to go: sporting events ticket prices seem to be falling quickly … 7.8% down from March to April (although they’re still 4.4% up over April 2023). That said, watch out for all those fees!
9. Natural gas
Although overall energy prices were 5.9% more expensive in April 2023 compared to a year before, if you use natural gas in your home, there’s some good news. Utility gas service costs dropped 5.1% from March to April 2023, and is 2.1% cheaper than it was a year ago.
We’ve got lots of ways for how to save on electricity.
Smartphone prices have the biggest drop of all products tracked by the government, registering a steep 20% reduction from April 2022 to April 2023. Prices went up a tiny bit (0.5% between March and April 2023), but that new phone is gonna be way cheaper now than it was a year ago.
Want an iPhone? We’ve got all the ways to save on Apple products.
When’s the best time to buy TVs? Maybe now; although television prices ticked up a paltry 0.3% between March and April of this year, they’ve overall dropped 11.9% in price since April 2023.
TV deals are all around (if you know where to look, and we do).
Top 10 biggest price drops between March and April 2023:
1. Admission to sporting events, 7.8%
2. Utility gas service, 5.1%
3. Indoor plants and flowers, 4.3%
4. Health insurance, 3.8%
5. Tomatoes, 3%
6. Women’s suits and separates, 2.3%
7. Computer software and accessories, 2.2%
8. Salt and other seasonings and spices, 2.2%
9. Major appliances, 2.1%
10. Ham, 2.1%
Top 10 biggest price drops between April 2022 and April 2023:
1. Smartphones, 20%
2. Health insurance, 15.8%
3. Energy, 12.6%
4. Gasoline, 12.4%
Although gasoline got a little more expensive between March and April 2023 as we head into vacation season, it’s still down 12.4% when compared to April 2022. We all know about the pain at the pump in recent years. Following the Russian invasion of Ukraine and OPEC cuts, fuel prices spiked significantly but ultimately leveled off.
We’ll help you save money on gas, no matter which direction prices are trending.
5. TVs, 11.9%
6. Car and truck rental, 11.2%
7. Major appliances, 10.4%
8. Bacon, 8.9%
9. Used cars and trucks, 6.6%
Vehicle prices soared in 2021 and 2022 due to higher demand as well as a microchip shortage and post-lockdown supply chain issues. And although used car prices are 6.6% down year over year, the price increase between March and April 2023 was a substantial 4.5%.
Before you get that new ride, you’ll want to be equipped with our car buying tips.
10. Citrus fruits, 5.4%