Some products soared in cost last year, while other consumer goods cooled. Here’s a look at 10 things that significantly rose or fell in price from November 2021 to November 2022 — and what they might tell us about what’s to come in 2023.
The tremendous rise in consumer prices was driven by a host of persistent problems, fromto Russia’s invasion of Ukraine. Over the summer, consumer prices peaked at 9.1 percent compared with the year before, the highest level in 40 years.Elementary and secondary school cafeterias were hit from all sides in 2022 as they grappled with covid outbreaks, supply chain issues and staffing shortages.
struggled to keep workers, including pilots and flight attendants, after more-senior staff retired early or left their jobs during the pandemic. Even with inflation well above normal levels, there are signs of improvement, and in some cases, prices falling. A combination of cooling consumer demand and easing supply chains supply have helped prices turn around after they rose significantly in earlier stages of the pandemic. The hope is that this progress will become more widespread as supply and demand all over the economy come into better balance.
nourished all winter. That boosted supply and even caused a brief glut of beef at the grocery store, but 2023 may not look the same onceAs people stayed home and bought stuff, the country imported and manufactured lots of televisions to meet demand. But now thoseretailers are cutting prices to clear their shelves and get rid of excess inventory.This may seem counterintuitive, since the cost of producing iPhones and other smartphones isn’t going down.
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