Let’s talk about things that are getting cheaper despite the high inflation!
We all know that the pandemic has imposed an economic shock on economies worldwide. The effects are still here, hurting our wallets, and there’s nothing we can do about it.
You probably remember (or heard stories from your parents and grandparents) that, just a few decades ago, every candy bar cost a nickel, and $70 a month could basically rent you a place. However, while inflation and rising manufacturing costs have considerably increased the price of countless products over the past few decades, for many others, they are just getting cheaper.
Yes, you’ve read it right. Despite what it may seem, there are lots of goods that have actually had dramatic price drops over the last several years. Here are some things that are getting cheaper today—some might surprise you. Let’s get started!
1. Mortgages
Mortgage rates have reached an all-time low, being among the things that are getting cheaper despite the high inflation. According to recent data, both the 15-year fixed and 30-year fixed mortgage rates declined in the past few months. For variable rates, the 5/1 adjustable-rate mortgage also dropped.
Although the anticipated economic recovery could stimulate inflation and mortgage rates are expected to go up a little in the future, experts don’t expect the average rate to go above 8%. According to recent data, the average 30-year fixed mortgage rate was 7.34% in February 2024.
2. Domestic plane tickets
No. 2 on the list of things that are getting cheaper is flight tickets. Airfare may still feel like a huge expense when you’re spending hundreds, if not thousands, of dollars for a round-trip flight ticket. However, research indicates that the price of airplane travel—at least within the US—has actually gone down by a staggering 21% since 2000.
As one of the things that are getting cheaper these days, the price of a flight ticket has fallen about 50% over the past four decades, when adjusted for inflation.
Moreover, if you find some great airfare deals, you can actually purchase cheap flights.
3. Televisions
While you may have paid a good chunk of money for that huge flat-screen TV, chances are you actually spent less on it than someone would have 20 years ago. In 2011, increased manufacturing led to an excess of supply, which put pressure on both manufacturers and retailers to lower prices.
And while this happened over a decade ago, the decreasing price trend has continued. According to data from the Bureau of Labor Statistics, between 2018 and 2019, the average price of TVs decreased by almost 20%.
Demand is down, and further data shows that people are spending more time holding their smartphones than in front of their TV sets. Since people are less interested in TVs than they were two decades ago, there’s less reason for manufacturers to price them highly.
As a result, TVs are now among the things that are getting cheaper and not more expensive. In fact, they now cost less than half of what they did per square inch two decades ago.
4. Starbucks House Blend
Next on the list of things that are getting cheaper are some Starbucks products. While the price of Starbucks drinks seems to increase every time we set foot in the store, you’ll probably be surprised to learn that the price of their beans is actually not going up along with the cost of inflation.
Namely, a pound of Starbucks House Blend will cost you around $9.30 at big-box retailers today and has been steadily falling in price when adjusted for inflation over the past 20 years. In fact, between 2000 and 2010 alone, the adjusted price declined by 7.23%.
Keep reading to discover other things that are getting cheaper!
5. Apples
While it’s probably hard to find people who think they are not being gouged on groceries, many of your favorite goods are actually getting cheaper. For instance, between 2000 and 2010 alone, the adjusted price of a pound of Red Delicious apples fell 3.85%.
In fact, recent data actually indicated that the price of Gala and Red Delicious apples is nearing all-time lows.
6. Honda Odyssey
Those looking for a reliable minivan in the late 1990s couldn’t have known that the price of the popular Honda Odyssey wouldn’t ride along with inflation. While a Honda Odyssey was only $23,810 in 1998 (that would be $35,200.72 in today’s dollars), a new Odyssey starts at just $29,990 today.
7. Toyota Camry
Despite its huge popularity, the price of Toyota Camry hasn’t actually ridden along with inflation. According to recent data, the current price for a Toyota Camry LE—$23,955—is 7% cheaper today than it was two decades ago when adjusted for inflation.
8. BMW 3-Series
If you’re thinking that luxury cars are only getting more expensive, you may want to think again because certain cars are actually among the things that are getting cheaper.
The best example? The BMW 318i, which, back in 1998, came at the price of $26,720. Nowadays, a comparable model, the 320i, costs around $34,400, a 13% dip when adjusted for inflation. Not bad, isn’t it?
9. Cell phone plans
No. 9 on the list of things that are getting cheaper is represented by cell phone plans. While these used to cost consumers an arm and a leg at some point, they have been gradually getting more affordable over the course of the past 20 years.
Case in point: nowadays, you can get a 2GB data plan from Verizon for only $35 a month. Moreover, cell phone plans are now, on average, 20% cheaper than they were in 2000.
10. Cameras
While digital cameras are becoming increasingly obsolete for many smartphone enthusiasts, if you still prefer a traditional camera, they are among the things that are getting cheaper.
According to a recent report, camera prices fell by 64% between 2000 and 2010 alone and have continued to drop. For example, nowadays, a new Canon PowerShot ELPH costs $119.99, a significant dip since its release. If you’re interested in getting a camera, here are some options.
11. Computers
Cameras aren’t the only electrical items that come at cheaper prices now than two decades ago. While computers are likely to always be expensive and make a hole in your budget, they are considerably less likely to ruin your savings today than ever before.
For example, while a Compaq laptop featuring a 250 MP hard drive started at $2598 over 20 years ago, you’ll be surprised to learn that a MacBook Pro with a 256 GB hard drive starts at only $1799 today.
12. Solar panels
If you want to save yourself some cash and save the environment as well, there’s never been a better time to do it. Those who’ve been thinking for a while about getting solar panels but never did it because of their high price would be happy to know that they have to pay an exorbitant amount of money for them. In other words, solar panels are among the things that are getting cheaper.
The price of them is less than half of what it was a couple of years ago, and prices have been steadily going down for decades.
If you liked our article on things that are getting cheaper, you may also want to read 8 Best Amazon Buying Tricks That Can Help You Save Money.
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