Price Drop Alert: These 4 Expenses Should Get Cheaper in 2024 (2024)

On paper, 2023 was a solid year for the U.S. economy: Inflation slowed while unemployment stayed low, and the new year could will bring even more progress.

The annual inflation rate is projected to fall to 2.1% in 2024, just a notch above the Fed’s long-run target, according to a recent report from the Congressional Budget Office. Ask inflation-weary Americans how they feel about the economy, though, and you’d probably get two thumbs down.

Alas, consumers likely won’t be seeing the return to pre-2021 prices they might be hoping for in 2024. While Goldman Sachs’ 2024 outlook says that the hard part of the inflation fight looks like it’s over, Americans should expect more of a slowing of price growth called “disinflation.” In other words, inflation will continue cooling off over time — and that's different from deflation, or a sustained drop in prices.

That said, forecasters expect a few goods and services in particular to finally see a little price relief this year. Here’s what’s expected to get cheaper as we head into 2024: