Consumer Price Index Shows Drop in Smartphone, TV Prices
The price of TVs and smartphones plunged in the U.S. between May 2024 and last month, according to Bureau of Labor Statistics consumer price index unadjusted data released Wednesday. Smartphone prices were down 14.3% year over year, while TV prices…
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fell 9.8%, it said. Computers, peripherals and smart home assistant prices dropped 3.5%. The price of services was more mixed. The data said the cost of wireless phone service was down 0.5%, while residential phone service rose 1.2%. Cable, satellite and livestreaming TV service costs were up 2%, and internet service was down 3.1% The cost of video purchase/subscription/rental rose 4.4%. May prices for all items were up 2.4% year over year before seasonal adjustment, the bureau said.