Posted by Yi-Xin Jin (Lily)
In the past year, the Consumer Price Index has dropped by 0.4 percent. Even though, many economists believe this is bad news for our nations’ economic growth, but to a certain extent it is good news for consumers because they can have a higher purchase power.
Here’s a guide that you can use to get good deals on products that have fallen in price.
Food and Beverages
In the past year, although the overall food and beverage index went up by 4.3 percent but this does not truly reflect the costs of food eaten at home. Since the index includes the price consumers pay whether they are dinning out or cooking at home, the actual costs for food eaten at home actually fell by 0.4 percent.
Right now is a great time to take advantage of the fallen price in the housing market. This includes the costs for household insurance, rent, and hotels.
The costs of clothing index, has fell slightly in March but it might rise again for the year.
The gas index has decline 4 percent in the past month, and it is expected to stay at this rate for awhile.
The costs of transportations has drop over 13 percent over the past year, but the drop in airfares is the most significant. Airfares have decline for 7 months consecutively.