The cost of purchasing a TV is declining while inflation climbs

Salt Lake City, Utah — Something isn’t more expensive now than it was a year ago, even if Utah households are struggling with rising inflation. That item is a television.

The latest current statistics from the Bureau of Labor Statistics show that the cost of televisions fell by 19% in August 2022 compared to August 2021.

“There is a lot of product now which is good for the consumer and that keeps prices down,” said Todd Boothe, the vice president of merchandising for R.C. Willey.

Boothe has extensive knowledge in this area.

He claims that when the pandemic started, many individuals bought televisions since they knew they would spend a lot of time at home.

Because producers met the demand, there are no supply shortages today.

Due to the price drop, shoppers can spend more money on more expensive goods.

“TV companies wanted to keep prices down so customers would keep buying them,” Boothe said. “You can buy a tv for less than last year. You can get a 75” tv for the price of a 65” tv a year ago.”

A lot of businesses are already giving holiday specials and offers in October rather than waiting until Black Friday in November, the author continues, so bargain hunters should take note.