Christopher Conlon, an economics professor at New York University’s business school, said that if you have extra money in your budget, it might make sense to shift some of your spending away from products with soaring prices to those that are defying inflation.
Washington Post
Or as Conlon joked, “Don’t buy eggs. Buy TVs.” (Conlon was definitely kidding, but egg prices jumped 70 percent in January from a year earlier.)
The Bureau of Labor Statistics is showing TV prices were 13% lower in January, 2023, than a year ago. Smartphones are 24% lower in the same time period. Eggs, on the other hand, are about 70% higher in price. That set off the Washington Post on a fun little piece about how prices are falling on consumer electronics in general, but manufacturers are focusing on higher-end goods with bigger profit margins, making it hard to find real steals at stores.
You can blame it on the pandemic. It made prices for TVs, cars, computers, and smartphones take big leaps as supplies dwindled, and demand swelled. Well, now, prices are coming down, and that’s good, but you are still paying more than you were prior to the pandemic. That is one of the paradoxes of the existing macroeconomic situation. Which leads to an expectation that prices will continue to go down in 2023, irrespective of any other factors at play.
