2022 was a rough year for the average consumer’s wallet. The US Bureau of Labor Statistics reports that the US is facing an 8.3% increase in inflation in the past twelve months, affecting nearly every industry. where Wages did not rise at A equal Inflation rateMillions of Americans have no choice but to tighten their belts.
Although inflation is high, life does soDo not stop, which means that you will have to buy some products in these less than ideal conditions. While products across the board experience a spike in prices, you can best serve yourself by making purchases during months when demand isn’t usually high.
Here are nine products that are currently experiencing a spike in prices due to inflation, and the best month to buy them though. (All inflation numbers courtesy of Bureau of Labor Statistics.)
Used cars and trucks
Inflation on an annual basis: 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. Agents often have quotas that they need to meet, so they are more willing to negotiate if a few units fall short of their goal. Aim to buy a car towards the end of the month in March, June, October or December.
Inflation year-over-year: 15.0%
Best time to buy: According to US News & World ReportFebruary and August are your best bets for getting a good deal on furniture. This is because new furniture usually hits the showroom floor at the end of winter and the end of summer, so stores usually try to clear inventory in preparation. Additionally, they point to President’s Day as a prime opportunity to take advantage of promotional sales.
Inflation on an annual basis: 12.1%
Best time to buy: US News and World Report says: September through December is the best window to buy major appliances, as deals usually start on Labor Day and run through the rest of the year. They also note that weekends like President’s Day, Memorial Day, Fourth of July, Labor Day and Thanksgiving are a good time to find a bargain, since they’re often subsidized by manufacturers and retailers. Basically, there are very few “best” times to buy a flagship device.
Tools and devices
Inflation on an annual basis: 10.4%
Best time to buy: According to House LogicJune and December are the best time to buy power tools, matching the sales of 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.
Inflation on an annual basis: top 8.0%
Best time to buy: According to Kun BicycleThe best time to treat yourself to a new bike is in the fall. During this season, most retailers are looking to offload remaining inventory to make room for new merchandise.
Inflation on an annual basis: 21.7% increase
Best time to buy: According to Credit Donkey, If you’re hoping to look sharp without breaking the bank, you should circle January on your calendar. The logic here is that consumers will have less spending leftovers after the holidays, so supermarkets will allow salespeople to do deals/promotions because they know there won’t be a lot of foot traffic.
Inflation on an annual basis: 15.7% increase
Best time to buy: to me LiveAboutThe best time to buy tires is April or October. Their rationale is to put the tires on sale in October to encourage consumers to buy before cold weather sets in, and again in April when the weather is warm and people start taking road trips.
Hotels / motels
Inflation on an annual basis: 22.6% high
Best time to buy: According to NerdWalletIt doesn’t really matter which month you book on the calendar, but how far away you book is from your potential stay. Nerdwallet studied average room rates and found that the best time to book your hotel room is 15 days abroad. For what it’s worth, they note that on average it’s only 13% cheaper to do so, so you should factor that into your budget accordingly.
Inflation on an annual basis: 33.3% increase
Best time to buy: Among the potential purchases hit hard by inflation, don’t hold your breath when you find too many cheap flights this summer. that’s why, According to FrommersThe cheapest month of the year to fly is January, when domestic flights average 10% less than in the high season in June.