Smartphones and bacon are among the products that have fallen in price.
in prices traces back to the pandemic-induced supply bottlenecks that made it harder to access a slew of goods, including essentials like gas and food.
The price of uncooked beef steaks has fallen 3% over the past year; while the cost of bacon has dropped nearly 4% in that period. Other pork products, like roasts and ribs, have undergone a price decline of almost 2%.Mario Tama/Getty Images The drop in electronics prices owes to a decadeslong trend in the sector: Over time, a new product or technology loses its novelty and its price falls, Elizabeth Renter, a data analyst at personal finance research firm NerdWallet, told ABC News. At the same time, companies often find more cost-effective ways of producing a given technology, further reducing its price.
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