The nation’s breakneck inflation, recorded at 8.5% year-on-year in July, has impacted the prices of many products and, consequently, the pockets of millions of Americans in the country.
At one of the highest levels in 40 years, the prices of some items in the cart fell monthly and weeklywhich may be signal that inflation has passed its peak and may be cooling down.
1. Eggs
According to the United States Department of Agriculture (USDA) a dozen large white eggs cost an average of $2.14 for the week of August 15-21.down 60 cents from the previous week, when the average was $2.74.
2. milk
The average price of a gallon of milk was recently $3.16. after it was listed at $3.14 between Aug. 8 and Aug. 12, according to the USDA.
3. Oil
By registering $4.68 between August 8 and 12, the average price of butter fell to $3.67. in its most recent period.
4. Gasoline
According to AAA gas prices, the average price of a gallon of gasoline on Sunday, August 21, was $3,904. the figure is below $3,908 on Saturday, Aug 20, $3.95 a week ago and $4.44 a year ago.
5. Plane tickets
Average domestic flight ticket price dropped from $332 in July to $295 in August.This is reported by the travel site Hopper. This amount again corresponds to the ticket price in the same month of 2019, before the pandemic. Estimates point to a further fall in prices next season.
Current inflation has strained Americans’ pockets to the point where Americans have had to spend an average of $717 more, according to a New York Life survey. The slight price cut could provide a breather for families who have had to cut various expenses in order to continue paying for essentials such as food and rent.
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