You probably know people who always seem to be complaining about rising prices. The next time you hear them complain, you might mention a few things that will probably cost less this year.
The Kiplinger Washington Editors put together a list of items they believe will cost less in 2014. At the top of that list would be technology. Prices for new technology usually drop after the early adopters give way to the rest of society. They predict that ultra-high-definition computer monitors will be much more affordable this year. These monitors have been dubbed 4K because they pack four times the resolution of standard HG screens. They are still fairly expensive, but the price is dropping.
The editors also predict that the price of gasoline will drop. They argue that calmer energy markets and increased domestic production will lower gas prices. I am not so sure about this prediction, but am hopeful that it is true.
The price of used cars is dropping. Sales of used cars are softening as sales of new cars ramp up and more leased cars hit used-car lots. At the moment there seems to be an oversupply of compact SUVs, low-end luxury cars, and hybrids.
College tuition at some schools is dropping according to the editors. Each fall, college prices rise, and parents of college-bound kids face incredible sticker shock. Some schools are therefore cutting undergraduate tuition by 10 percent to nearly 50 percent. These reductions more closely match what parents and students might receive in aid. A middle class family would most likely be the greatest beneficiary of this change.
The editors also say that gold will be cheaper in 2014. After a 12-year run of rising prices for precious metals, gold dropped almost 30 percent last year. Bank of America Merrill Lynch forecast an additional drop in prices this year. This is another one of the predictions I am not sure about. Uncertainly about the economy could quickly reverse this trend.
The next time someone complains about prices always going up. You can point to some items that experts tell us will be cheaper this year.