From Time:



The fight against inflation appears to be working, as recent reports show that inflation is cooling down and trending toward the Federal Reserve’s target of 2%. However, experts caution that it is too soon to declare victory as there may be turbulence ahead. In 2024, prices are expected to grow at a slower rate than they have been lately, a shift economists call disinflation. This means prices will continue to moderate and become less of a burden on people’s budgets, but some goods and services are expected to become more expensive.

For example, auto insurance, some electric vehicles, health insurance, homeowners insurance, and restaurant food are all expected to see price increases in 2024. Car insurance, in particular, has been increasing at a pace far higher than overall inflation lately. Furthermore, health insurance plans and homeowners insurance premiums are expected to jump significantly in the new year. On the other hand, groceries are expected to see a drop in price, signaling deflation in that sector.



Read more: 5 Things That Will Get More Expensive in 2024