Prices are going up on almost everything. Here’s why
Shortages and supply chain issues across the world have sent the cost to make and move goods soaring and left consumers paying up.
By Moira Ritter, CNN Business
You might’ve heard that everything is getting more expensive.
Well, that’s mostly true. It wasn’t easy, but we found a handful of items that are still cheaper than when the pandemic started last year.
Here are some of the things that are cheaper than they were in February 2020.
Clothing
As the shift to remote work took hold at the start of the pandemic, the typical American’s closet shifted, too. Goodbye, suits and dresses. Hello, sweatpants and T-shirts.
Now that offices, restaurants and the rest of the world are starting to reopen, it might be a good idea to prepare your wardrobe. Fortunately, some clothing is still cheaper than it was pre-pandemic.
Both men’s and women’s apparel broadly are less expensive than pre-pandemic. Men’s apparel has dropped 7.2%, while women’s apparel has decreased 5.9% since February 2020, according to the Bureau of Labor Statistics.
Women’s dress prices have fallen 12.1% during the pandemic. Men’s suits and sports coats have decreased even more significantly. Suits are now 21.5% cheaper than they were in February 2020.
Transit
Another change that came with staying home: No more mass transit. Now that many Americans are vaccinated, trains and buses are gaining steam and becoming the norm once again.
Luckily, intracity mass transit is about 2.9% cheaper than it was last February.
If you’re enjoying a night (or day) out this weekend, although your meal or drink might be more expensive than usual, you can take comfort in the fact that your ride was cheaper than it would have been 16 months ago.
Sporting Events
It’s baseball season, and what better way to celebrate summer and vaccination than joining a stadium full of other people and watching a game — in person?
Sporting event admissions are 1.8% cheaper than before the pandemic. Although not the most monumental difference, it’s important to take our wins where we can, and even the smallest difference in price is a big deal when (almost) everything else is getting more expensive.
Pets
The demand for pets and pet supplies skyrocketed during the pandemic as Americans spent time stuck at home.
As we re-enter the world, though, you might consider restocking your pets’ toy basket once more, because pet supply prices are still lower than they were pre-pandemic.
Pets and pet product prices are 1.8% cheaper than they were in February 2020. Pet supplies and accessories are down 3.8% since the start of the pandemic.
Health care
During the pandemic, health care became even more important than before. So how has medical care dodged inflation? Preventative doctor’s visits and healthcare were moved to the back burner last year as people stayed home during the pandemic.
Since February 2020, medical care commodities, which include all medicinal drugs and other medical supplies, have gotten 2.3% cheaper.
Broken down into more specific categories, prices of medicinal drugs, which encompass both prescription and over-the-counter medicine, saw a 2.2% decrease. Prescription drug prices alone are down 2.9% over the past year and a half.
Medical equipment and supplies, which includes items like dressings, contraceptives, heating pads and wheel chairs, saw the biggest change with a 5.8% drop in price since before the pandemic.
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