What goes up must come down, right? For some prices, yes.
Money Talks News analyzed the Bureau of Labor Statistics’ latest Consumer Price Index data, which is for December 2019, to find out which things actually cost less going into 2020 than they did one year prior.
Overall, the price of all things overall rose by 2.3% over the course of 2019, according to the BLS. So, rejoice at those products that cost a bit less than they once did. Click through the slideshow to see all the products with prices that were at least 5% lower going into this year than they were going into 2019.
12. Peanut butter
Price decline from December 2018 to December 2019: 5%
Peanut butter prices have been falling for five years now, according to an August 2019 report by IBISWorld.
The business and market research firm explains:
“The industry’s overall lackluster performance is mostly a result of operators lowering the price of peanut butter to remain competitive in a concentrated industry. … Despite revenue declines, peanut butter remains a consumer staple and does not experience wild fluctuations in demand, even during periods of economic downturn.”
11. Computers, peripherals and smart home assistant devices
Price decline from December 2018 to December 2019: 5.3%
Semiconductor revenue declined 12% in 2019, the industry’s biggest drop since its 32% drop in 2001 amid the bursting of the dot-com bubble. The slump is blamed on the trade war between the U.S. and China.
Policies supporting free trade and open markets “are needed for continued recovery,” says the Semi Conductor Industry Association.
10. Leased cars and trucks
Price decline from December 2018 to December 2019: 5.4%
Don’t just go for that new car smell despite cheaper lease prices, though. As we explain, in “You Should Never Buy These 10 Things New,” the value of a new car plummets after you drive it off the lot.
9. Toys, games, hobbies and playground equipment
Price decline from December 2018 to December 2019: 5.9%
Revenue of $20.9 billion in 2019 from U.S. retail toy sales was a 4% decrease from 2018, according to global data and analytics company The NPD Group.
Part of the drop was blamed on a shorter 2019 holiday retail season — there were six fewer shopping days between Thanksgiving and Christmas.
8. Infant equipment
Price decline from December 2018 to December 2019: 6.4%
The Bureau of Labor Statistics describes this category as including strollers, bottles and bottle accessories, pacifiers, crib accessories, car seats, carriers and nursery monitors. It does not include toys or clothing.
7. Women’s dresses and outerwear
Price decline from December 2018 to December 2019: 6.9% and 6.7%, respectively
Last year was a good one for clothes shoppers, and not just for those looking to buy women’s dresses and outerwear, which had steeper price declines than other clothing. Various clothing categories for women, men and children also showed price declines.
Check out “These 9 Dumb Clothes Shopping Mistakes Will Cost You” for other ways to lower your clothing costs.
6. Oranges and tangerines
Price decline from December 2018 to December 2019: 7.4%
Florida’s orange production increased 59% from the 2017-18 season to 2018-19.
At the same time, California’s total orange output went up 13%, according to the U.S. Department of Agriculture. The Golden State’s production of tangerines rose 35%.
Price decline from December 018 to December 2019: 7.7%
In September 2019, the U.S. and Mexico signed an agreement that’s expected to help the American fresh tomato industry and prevent price suppression. According to the U.S. Commerce Department:
“The suspension agreement completely eliminates the injurious effects of unfairly priced Mexican tomatoes, prevents price suppression and undercutting, and eliminates substantially all dumping, while allowing Commerce to audit up to 80 Mexican tomato producers and U.S. sellers per quarter, or more with good cause.”
4. Laundry appliances
Price decline from December 2018 to December 2019: 8.5%
Looking for a new washer and dryer? Prices took a good-sized drop last year.
When making a purchase, pay attention to Speed Queen, the company that Money Talks News reports manufactures the most reliable appliances in the country.
3. Computer software and accessories
Price decline from December 2018 to December 2019: 11.2%
Software prices might have dipped, but there’s no slowdown in sales. Global revenue is forecast to increase more than $100 billion from 2016 to 2021, according to an analysis by Statista.
2. Telephone hardware, calculators and other consumer information items
Price decline from December 2018 to December 2019: 14.6%
Consumers are enjoying a drop in costs in this category.
Shopping for the latest deals on smartphones? Check out “The 5 Best Deals on Cellphones and Mobile Plans in February” for savings on monthly plans and phones.
Price decline from December 2018 to December 2019: 20.5%
It might be hard to believe in this era of 50-inch smart TVs that cost a couple hundred dollars, but a television once cost well over $1,000 for just a small black-and-white model.
What purchases have you noticed have become cheaper this year? Share with us in a comment below or at Money Talks News on Facebook.