8 Household Items That Remain Affordable, Despite Inflation

It’s no secret that global inflation has been on the rise in 2022, with an average 5.83% increase in prices for goods and services in the U.S from 2021 to 2022. Things like food, fuel and rent have soared in price as a result of Russia’s invasion of Ukraine and other global crises that just seem to keep unfolding.

Read: What Is the Highest Income Level for Food Stamps in 2023?
Find Out: This Credit Score Mistake Could Be Costing Millions of Americans

Despite the rate of inflation, the prices of some household items and services have barely been touched by it. In some cases, things have actually experienced a drop in price. GOBankingRates analyzed data from the Bureau of Labor Statistics to figure out what has remained affordable through this trying economic state of the world.

Like a variety of other electronics, audio equipment has actually experienced the opposite of the national trend. From 2021 to 2022, the price of audio equipment experienced a small drop of just 0.45%. Now you can expect that $30 speaker that you had your eye on to be $29.87.

Take Our Poll: Do You Believe in Quiet Quitting?

Software and accessories for computers experienced an even higher drop in price from 2021 to 2022. In 2022 you can expect software, mice and other computer gear to cost 2.06% less than they did the previous year.

The prices of items like nail polish and makeup changed very little from 2021 to 2022, with only a 0.38% increase in price.

One theory for why there’s a small change in price for cosmetics is known as the “Lipstick Effect,” first addressed this way by Juliet Schor in her book “The Overspent American.” It’s when the luxury items that we treat ourselves to go up in sales during economic hardship. It’s exemplified by the increase in purchases of luxury cosmetics during moments of mass economic turmoil.

The Lipstick Effect is said to exist because of the desire to break away from the stressful realities of economic/world struggle. Spending on ourselves like we have the luxury to do so feels like a nice callback to easier times, even if it’s making it harder on our finances.

Now is the time to find your new favorite novel. Recreational books saw only a 0.43% increase in price over the past year. This is speculated to be because of more bookstores closing due to COVID-19 and a growing popularity of online books as a result, which are already cheaper than physical copies of books.

The prices of consumer information technology dropped dramatically a whole 7.93% in 2022 since 2021. Technological advancements have made the purchase of certain things dwindle over time — you don’t need to buy a phone and a calculator separately anymore because smartphones come armed with them already, among many other features.

The price of photographic equipment and supplies like film and lenses for cameras increased a whole 1.51% from 2021 to 2022. It’s a dramatic drop from the inflation rate of 3.28% that it had the previous year.

Despite continuing supply shortages in eyewear materials according to Steve Horowitz, chairman of The Vision Council’s Eyewear and Accessories Division, eyeglasses and products for eyecare experienced a low 1.56% increase in price from 2021 to 2022.

Like other electronics, televisions have experienced a drop in price. Their price fell much more than other electronics, however, boasting a 6.38% decrease in price from 2021 to 2022.

More From GOBankingRates

• 10 Do's and Don'ts of Costco Shopping
• Explore GOBankingRates' 2023 Banking Resource Center
• The 10 Best Balance Transfer Credit Cards for 2023
• Experts: 4 Safest Places To Keep Your Savings