Areas where inflation is waning

Reporter: Andryanna Sheppard Writer: Paul Dolan
Published:
Money. (Credit: CBS News)
Money. (Credit: CBS News)

While it may seem like you may be surrounded by inflation and high prices all around you, not everything is actually going up in price.

From the pump to the grocery store, inflation is hitting consumers where it hurts the most, our wallets.

Economists at the University of Pennsylvania’s Wharton business school found the average household is spending $3,500 more to buy the same amount of goods and services they did back in 2000.

And now, two-thirds of Americans said they’re less comfortable making household purchases now than they were six months ago. But, that may change since some prices are actually dropping.

iPhones, Google Pixels, and Samsung Galaxies are a bit cheaper, dropping in price by more than 15%. And, 71% of TVs are on sale as of Monday. Tickets as a whole have dropped by up to 50% in the last six months.

Pet supplies are seeing a drop in price too, the demand spiked during the pandemic. Pet product prices are almost 4% lower than they were during the pandemic.

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