Don't waste your money | Deflation starting, but won't see much difference yet | Business

LOUISVILLE, Ky. (WDRB) — Some good news on the inflation front as we start 2024. Inflation is slowing down.

Consumer Reporter John Matarese shows us some prices that are starting to fall, so you don't waste your money.

For three years, we've all felt inflation hit our wallets as prices keep going up. But this year, there are some signs of deflation with some prices actually falling!

We're not seeing as many surprises at the grocery store these days as we did the past three years when prices soared on beef, eggs, and almost everything else.

“It just seemed everything has been going up in price.”

CNBC said some items are now experiencing deflation which it calls the anti-inflation!

From the end of 2022 to the end of 2023, the consumer price index shows:

Eggs down 23%
Lettuce down 16%
Cheese, butter and milk down 3%

And, it's not just at the grocery store:

Natural gas down 14%
Car rental costs down 12%
Furniture prices down 6%

CNBC credits the end of pandemic shortages, which sent prices through the roof. But from the 'doesn't that stink' file, the sticky nature of price hikes.

The report said used cars are still 30% more expensive than they were pre-pandemic, with just slight price drops.

New car prices are up sharply with no hint of coming back down. Hotel and airfare rates have leveled off but remain high.

Even with inflation slowing this year, that doesn't mean your grocery bill will suddenly get smaller. But at least there is some good news so you don't waste your money.

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