Despite inflation, some everyday products actually dropped in price this year | CNN Business

In 2024, inflation in the United States slowed significantly, with prices rising only 2.5% from January through November, down from 3.1% in 2023. Key areas such as fuel oil, gasoline, consumer technology, and used cars saw notable price declines, providing some relief to consumers. The reduction in fuel oil prices, down by nearly 17%, particularly benefited residents in the Northeast and Alaska, while a 6.7% decrease in consumer tech prices continued the trend of technology acting as a deflationary product. Despite these positive developments, the economic landscape remains complex, with geopolitical tensions and volatile global demand influencing oil prices and energy costs. Additionally, the potential imposition of tariffs by President-elect Donald Trump could disrupt supply chains and increase prices for consumer technology and vehicles, posing risks to the inflation trajectory in 2025. These developments underscore the intricate balance of economic factors affecting consumer costs and highlight the ongoing challenges in managing inflation and energy expenses.
RATING
The article provides a comprehensive overview of inflation trends and price changes across various sectors in 2024. It is generally accurate, leveraging data from credible sources like the Bureau of Labor Statistics and insights from industry experts. However, it could improve in terms of balance by incorporating a wider range of perspectives and acknowledging potential biases. The article effectively uses authoritative sources, but it would benefit from more diverse citations. Its transparency is moderate, as it does not fully disclose the affiliations of quoted experts. The clarity is high, with well-structured sections and a professional tone, though some segments could be simplified for better understanding.
RATING DETAILS
The article is largely accurate, with data sourced from reputable organizations such as the Bureau of Labor Statistics and the Consumer Price Index, which lends credibility to its claims about inflation rates and price changes. For example, it accurately states that the prices of everyday goods and services rose by 2.5% from January to November 2024, compared to higher rates in previous years. However, it relies heavily on projections, such as the 2025 outlook for gasoline prices, which introduces some degree of uncertainty. The article could be improved by providing additional data points or verifying the projections with multiple expert opinions.
While the article covers various sectors affected by inflation, such as fuel oil, gasoline, consumer technology, and food, the representation of perspectives is somewhat limited. It primarily relies on expert opinions and lacks direct consumer viewpoints, which could provide a more balanced narrative. The article could also benefit from discussing the potential negative impacts of price changes on different socio-economic groups. For instance, while it mentions the potential effects of tariffs on consumer technology prices, it doesn't explore opposing views or potential benefits. This imbalance slightly detracts from the overall objectivity of the piece.
The article is well-written, with a clear structure that guides the reader through different economic sectors affected by inflation. It uses straightforward language and a professional tone, making complex economic concepts accessible to a general audience. For example, it effectively explains the reasons behind the decline in consumer technology prices and the potential impact of tariffs. However, a few sections could benefit from further simplification or the use of bullet points to break down dense information, such as the detailed analysis of fuel oil price changes. Overall, the clarity of the article is strong, with minor areas for improvement.
The article cites credible sources such as the Bureau of Labor Statistics and quotes from industry experts like Rick Kowalski and Mark Wolfe, which enhances its reliability. However, it could improve by including a wider variety of sources, such as academic studies or reports from independent think tanks. The reliance on predictions from GasBuddy and other single-source forecasts could benefit from corroboration by additional experts or data sources. Additionally, the article should ensure that all expert opinions are clearly attributed, providing readers with information on their affiliations to assess potential biases.
The article provides some context for its claims, such as historical price comparisons and expert opinions, but it lacks full transparency regarding the potential biases of its sources. For instance, it mentions predictions from GasBuddy and the Consumer Technology Association without discussing their potential interests or affiliations. The article also does not disclose the methodology behind certain projections, such as expected future inflation rates or the impact of tariffs. Providing more information on how these predictions are made, as well as any potential conflicts of interest of quoted experts, would enhance the article's transparency.
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