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DALLAS (CBS11) – Every year it seems like it’s getting harder to stretch a dollar.
Housing costs are up in North Texas. Gas prices are going up, too. Prescription drugs will be more expensive in 2017. Plus, it will be costlier to borrow in 2017 as interest rates are set to increase.
University of North Texas economist Guillermo Covarrubias, PhD. said despite these price increases several things will actually drop in price this year.
“There are multiple factors as to why some prices will decrease,” said Covarrubias. “”The strength of the dollar is just one factor.”
Here’s the top five things that will be cheaper in 2017.
Early last year during the bird flu panic it wasn’t unheard of to pay $3 for a dozen eggs. The price is now down to $1.50. According to economists, we can expect egg prices to drop another 12 percent in 2017.
Last year a growers strike and short supply caused the price of avocados to spike in Texas to more than $2.50 for a single fruit. However, now that the supply from Mexico is back up, the price is back down and should go down even further after the winter season.
3. 4K TVs
A year ago most 4K TVs sold for around a thousand dollars. As with most high-tech electronics, the price of 4K TVs will drop over time. In 2017, industry experts say many 4K TVs will be sold for around $400 to $500.
The drop in price is in part because the industry is suffering for oversupply, increase competition online, and in part because many people are buying other stones than just diamonds. The non-diamond engagement ring is becoming more popular, but jewelers say it’s not the millennials that’s driving this trend. It’s older consumers wanting something different.
Due to the strength of the U.S. dollar in relation to the Euro and Peso, international travel will be cheaper this year. So should flying domestically. Delta, United, and soon American Airlines this year will begin offering basic economy fares to compete against discount airlines. The added competition is predicted to drop the price of flights by 3 to 5 percent. However before booking a basic economic fare, make sure you’re aware of the restrictions. For example, passengers on a basic economic fare will not receive an assigned seat until they check-in. Plus, in many cases travelers will be limited to just one carry-on and it must fit under the seat.
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