2022 was a difficult year for the average consumer’s wallet. The US Bureau of Labor Statistics reports that the United States has experienced an 8.3% rise in inflation in the past 12 months, affecting almost every industry. Ever since wages have not risen at a sympathetic pace until inflationmillions of Americans have no choice but to tighten their belts.
Despite the rising inflation, life does not stand still, which means that in these non-ideal circumstances you will have to buy a number of products. While products experience price increases across the board, you can best serve yourself by making purchases during months when demand is usually not as high.
Here are nine products currently experiencing significant price increases due to inflation, and the best month to buy them anyway. (All inflation figures are courtesy of the Labor Statistics Bureau†
Used cars and trucks
Annual inflation: 22.7%
Best time to buy: According to US News & World ReportThe best time to buy a used car or truck is the end of the fiscal quarter. Dealers often have quotas to meet, so they’re more willing to negotiate if they’re a few units short of meeting their target. Aim to finish by the end of the month in March, June, October, or Dec.
Annual inflation: 15.0%
Best time to buy: According to US News & World ReportFebruary and August are your best bets to get a good deal on furniture. This is because new furniture usually hits the showroom floor around the end of winter and the end of summer, so stores usually try to clear out inventory in preparation for it. In addition, they view President’s Day as an excellent opportunity to take advantage of promotional sales.
Annual inflation: 12.1%
Best time to buy: US news and world report say September through December is the best window for buying major appliances, as deals usually start on Labor Day and last through the rest of the year. They also see holiday weekends such as President’s Day, Memorial Day, Fourth of July, Labor Day and Thanksgiving weekend as a good time to get a deal as these are often backed by the manufacturers and the shopkeepers. In short, there are quite a few “best” times to buy a great device.
Tools and hardware
Annual inflation: 10.4%
Best time to buy: According to House LogicJune and December are the best time to buy power tools, matching the sales for both Father’s Day and Christmas. Is this sexist? Probably. I can only tell you the best time to buy things…I can’t fix society.
Annual inflation: 8.0% up
Best time to buy: According to Bicycle Universe, autumn is the best time to treat yourself to a new bike. During this season, most retailers try to unload the remaining stock to make room for new merchandise.
Annual inflation: up 21.7%
Best time to buy: According to Credit Donkey, if you want to look sharp without breaking the bank, you should circle January on your calendar. The logic here is that consumers will experience a bit of a spending hangover after the holidays, so department stores will allow their sellers to close deals/offer promotions because they know there won’t be a lot of foot traffic.
Annual inflation: up 15.7%
Best time to buy: According to lI have acontestApril or October is the best time to buy tires. Their logic is that tires will go on sale in October to encourage consumers to buy for the cold the weather hits, and again in April when the weather warms up and people start taking road trips.
Annual inflation: up 22.6%
Best time to buy: According to NerdWallet, it doesn’t matter so much in which month you book on the calendar, but how far you book from your future stay. Nerdwallet studied average room rates and found that the best time to book your hotel room is 15 days out. For what it’s worth, they note it’s only 13% cheaper on average to do this, so you should budget that accordingly.
Annual inflation: up 33.3%
Best time to buy: Among the potential purchases hardest hit by inflation, don’t hold your breath finding too many cheap flights this summer. That because, according to Frommersthe cheapest month of the year to fly is January, when domestic flights are on average 10% lower than in the peak season of June.