Inflation 2022: 9 Industries That Have Not Been Affected Much
It seems we can’t escape headlines about inflation lately. However, that’s no surprise given that inflation reached 9.1% in June, the highest since 1981. To be sure, some industries have been hit hard by inflation. For instance, energy prices remain high even though prices at the pump have fallen somewhat.
But other industries have remained relatively unaffected, even as prices continue to climb. Some industries have even experienced falling prices recently. Industries where dividend stocks are common generally fall into this category. In other words, it tends to be established, stable industries that are unaffected.
Insurance
- One-year change in prices: +1.2%
- One-month change in prices: +0.0%
- Two-year change in prices: +1.1%
Insurance is a broad industry, as there are insurance policies for your health, your home, your car and more. However, insurance prices have remained remarkably stable, even going back two years. Overall, prices are just 1.1% higher than they were in 2020.
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Telecommunications
- One-year change in prices: +1.5%
- One-month change in prices: +0.1%
- Two-year change in prices: +1.3%
Telecommunications, too, is a broad industry. After all, it includes phone, radio, internet and TV services. Across that wide spectrum, though, prices haven’t increased much as of late. The one-year change is just plus-1.5%, and the one-month change is 0.1%.
Broadcasting
- One-year change in prices: -1.4%
- One-month change in prices: +0.8%
- Two-year change in prices: +1.6%
Broadcasting refers to distributing content through a medium such as TV or radio. Broadcasting is a part of telecommunications, so the price trend is similar between the two. The one-month price change is slightly higher here at 0.8%. Overall, though, the price trend looks similar to that of telecommunications.
Electronics and Appliance Stores
- One-year change in prices: -7.9%
- One-month change in prices: +2.1%
- Two-year change in prices: +2.2%
Electronics and appliance stores have the most significant one-year price drop on this list. Interestingly, the one-month price change is nearly identical to the two-year price change, at 2.1% and 2.2%. If that ~2% change holds, electronics stores will have just a modest increase in prices over time.
Publishing
- One-year change in prices: +1.8%
- One-month change in prices: +1.7%
- Two-year change in prices: +2.9%
The publishing industry’s two-year change in prices is 2.9%, which is higher than the inflation rate for 2020. Despite this, prices for publishing have dropped in recent months, even as inflation nationwide has soared. The one-year and one-month price changes are 1.8% and 1.7%.
Apparel Manufacturing
- One-year change in prices: +3.7%
- One-month change in prices: +0.1%
- Two-year change in prices: +3.6%
Price trends for apparel manufacturing have mostly been consistent. The two-year price change is 3.6%, and the two-year change is 3.7%. However, prices barely budged in the past month, with just a 0.1% increase.
Health and Personal Care Stores
- One-year change in prices: +5.1%
- One-month change in prices: -0.8%
- Two-year change in prices: +1.9%
Prices at health and personal care stores have been a bit up and down. Overall, though, prices haven’t increased as much as the national inflation rate. Prices increased by 1.9% over the past two years. Over the past year, the increase was steeper at 5.1%. However, prices declined by 0.8% over the past month.
Computer & Electronic Product Manufacturing
- One-year change in prices: +5.4%
- One-month change in prices: +0.4%
- Two-year change in prices: +4.9%
Computers have been an essential part of our lives since at least the start of the 21st century. Thus, it bodes well for consumers that the cost to make them hasn’t increased as much as some prices have. The price increase was around 5% for the past two years — a little high, but prices increased by just 0.4% over the past month. Hopefully, the most recent trend will continue.
Hospitals
- One-year change in prices: +2.2%
- One-month change in prices: +0.1%
- Two-year change in prices: +6.8%
Prices at hospitals had been increasing somewhat rapidly — the two-year price change is 6.8%. However, the price change has been a lot more modest in recent months. Over the past year, prices have increased by 2.2% — but just 0.1% over the past month. It is interesting to see this trend, especially as COVID-19 hospitalizations remain high in some parts of the U.S. In fact, there are still more than 20,000 people hospitalized due to COVID-19, according to Our World In Data.
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