U.S. consumers had some challenges to deal with last year, including battling decades-high inflation and gas prices that soared to $5 a gallon in June. While the prices of some items saw double-digit increases in 2022, some things actually got cheaper.
Here’s how prices changed last year:
- The prices of apparel were up, but not by much. Clothing increased 3.6% and shoes were up 2.3%. Sporting goods saw a 2.7% increase and toys were up just 0.6%.
- Plane tickets and gas got a lot more expensive in 2022. Plane ticket prices soared 36% for the year after falling to an all-time low in 2020. Driving was a cheaper option, but not by much as gas prices were up 10.1% for the year.
- If you’ve been to the grocery store this year, you probably noticed that food was a lot more expensive, as prices were up 10.6%. Some specific items got even pricier, including eggs that shot up 49.1% thanks to a supply shortage caused by avian flu, as well as high demand. Margarine was 47.4% more expensive, while butter was up 27% after global milk supply issues.
- Electronics were some of the items that got cheaper in 2022. Smartphone prices went down by 23.4%, TV prices dropped 17% and computers fell 4.4% in price. The price of major appliances also fell, but only by 1%.
Source: CNN