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Inflation cooled in August and fell to its lowest level since February 2021, which was around the time the consumer price index began to climb during the pandemic era.

This broad trend in the U.S. economy — a declining but still-positive rate of inflation — is known as “disinflation.” It means that, in aggregate, the average prices of goods and services are rising, just more slowly.

However, there are also pockets of “deflation.” Their inflation rate is negative, meaning prices are falling.

Deflation has largely been happening for physical goods such as cars and household appliances, though it has also appeared in categories such as gasoline and various groceries over the past year, according to the consumer price index.

That said, consumers shouldn’t expect — or root for — a broad and sustained fall in prices across the U.S. economy. That generally doesn’t happen unless there’s a recession, economists said.

‘A huge shift in demand’

Prices for “core” goods — commodities excluding those related to food and energy — have deflated by about 2% since August 2023, on average, according to CPI data.

They fell 0.2% during the month, from July to August 2024.

Mortgage rates drop on CPI data

The dynamic of falling goods prices has largely been due to a “normalization” of supply-and-demand trends that were thrown out of whack during the pandemic, said Stephen Brown, deputy chief North America economist at Capital Economics.

Demand for physical goods soared in the early days of the Covid-19 pandemic as consumers were confined to their homes and couldn’t spend on things such as concerts, travel or dining out. Households also had more discretionary income due to the pullback on spending coupled with federal aid.

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“We saw a huge shift in demand, in terms of the type of things people were spending on, where you weren’t going out as much,” said Sarah House, senior economist at Wells Fargo Economics.

The pandemic also snarled global supply chains, meaning goods weren’t hitting the shelves as quickly as consumers wanted them.

Such supply-and-demand dynamics drove up prices.

However, those economic contortions have largely eased and prices have deflated as a result, economists said.

Where prices have deflated

For example, prices have declined by about 5% for furniture and bedding and 3% for appliances since August 2023, according to CPI data.

They’ve also fallen for tools, hardware and outdoor equipment, which are down 3%, toys, down 3%, and apparel, such as men’s suits and outerwear, down 10%, women’s outerwear, down 9%, and footwear, down 1%.

Prices for new and used vehicles have fallen by 1% and 10%, respectively, since August 2023. Car and truck rental prices have deflated about 8%.

Car prices were among the first to surge when the economy reopened broadly early in 2021, amid a shortage of semiconductor chips essential for manufacturing.

Recent declines in car prices are largely due to “the inventory picture being more improved in the overall vehicle space,” House said. Higher financing costs have also reduced consumer demand, economists said.

Outside of supply-demand dynamics, the U.S. dollar’s strength relative to other global currencies has also helped rein in prices for goods, economists said. This makes it less expensive for U.S. companies to import items from overseas, since the dollar can buy more.

Long-term forces such as globalization have also helped, by increasing imports of more lower-priced goods from China, economists said.

Airline fares have declined about 1% over the past year, according to CPI data.

The drop is partly attributable to a decline in jet fuel prices, Capital Economics’ Brown said.

Average aviation jet fuel prices are down about 21% from last year, according to the International Air Transport Association.

Grocery prices have fallen for items such as apples, potatoes, ham, coffee, rice, seafood and bananas, according to CPI data. Each grocery item has its own supply-and-demand dynamics that can influence pricing, economists said.

Other categories’ deflationary dynamics may be happening only on paper.

For example, in the CPI data, the Bureau of Labor Statistics controls for quality improvements over time. Electronics such as televisions, cellphones and computers continually get better, meaning consumers generally get more for the same amount of money.

That shows up as a price decline in the CPI data.

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Check out BLUETTI’s unmissable Fall Prime Day deals this October

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Check out BLUETTI's unmissable Fall Prime Day deals this October

Fall is here, and so is Amazon’s Prime Day on October 8-9 – your chance to snag up to 50% off BLUETTI’s portable power solutions! Exclusive Electrek reader discounts are up for grabs, but just like Halloween candy, they’re gone by October 31. Don’t miss out! Keep reading for all the details.

BLUETTI AC50B Portable Power Station

The AC50B power station is a compact powerhouse, weighing just 14.8 pounds and packing a personal-sized 448Wh capacity with 700W output (peaking at 1,000W). With six ports – two AC, two USB-C, one USB-A, and a car port – it’s ready to charge all your essentials.

Built to last, it features an ultra-safe LiFePO4 battery with 3,000+ life cycles, and it’s rated for at least 10 years of continuous use, making it a solid investment for road trips, camping, or any adventure. The Turbo Charging mode gets you back to 80% power in just 45 minutes with a wall outlet or fully charged in three hours using a 200W solar panel. Plus, you can easily monitor and control everything via the BLUETTI app on your smartphone or tablet.

The AC50B’s list price is $399, but the Prime Day deal price is $279, saving you $120 – that’s a 30% discount! Buy it on Amazon here.

BLUETTI is also offering Portable Power Station AC50B with 120W Solar Panel included. Ordinarily $598, the Prime Day deal price is $449, saving you $149 – a 25% discount. Buy the bundle on Amazon here.

BLUETTI AC70 Portable Power Station

The grab-and-go AC70 Power Station is your budget-friendly energy solution for everything from powering a campsite kitchen to setting up a remote workspace. With 950W Turbo Charging, it powers up fast—hitting 80% in just 45 minutes.

It weighs a mere 22.5 pounds, but the BLUETTI AC70 packs a punch when it comes to power. Its 768Wh capacity and DC, AC, and USB inputs support all your devices, whether it’s a 120W car fridge, a projector, or an induction cooktop.

The AC70 delivers 1,000W of continuous power to connect various appliances simultaneously. It also comes equipped with a “Power Lifting” function you can activate from the BLUETTI App. This feature can handle high-power resistive loads up to 2,000W, allowing you to power energy-intensive devices such as hair dryers, electric kettles, and heaters.

The AC70’s list price is $699, but the Prime Day deal price is $379, saving you $320 – that’s an impressive 46% discount! Buy it on Amazon here.

The AC70 also comes with an optional 120W solar panel so you’ll always have access to power if you’re headed off-grid.

BLUETTI AC180 Portable Power Station

Looking for a power solution that can keep up with your adventurous lifestyle? Meet the BLUETTI AC180 portable power station—your go-to energy source for everything from camping trips to home backup. With a robust 1,152Wh (or 1,440Wh for the AC180P) capacity and a powerful 1,800W output (up to 2,700W with Power Lifting Mode), this portable station can handle everything from charging your phone to running high-powered devices like space heaters and kettles. Its compact, grab-and-go design makes it easy to take wherever your adventures lead.

The AC180 is built for versatility. With 11 output ports – including AC, USB-A, USB-C, a 12V DC outlet, and even a wireless charging pad – it’s perfect for off-grid living, road trips, or home use during power outages. And when you’re out in the wild, simply hook it up to 200W solar panels to recharge in just a few hours. Plus, with the BLUETTI app, you can control and monitor everything from your phone.

The AC180 uses ultra-reliable LiFePO4 batteries, giving you over 3,500 life cycles. It even comes with a five-year warranty for that extra peace of mind. And with four flexible recharging options – AC, solar, car, or generator – you’ll never run out of power.

The AC180’s list price is $999, but the Prime Day deal price is $499, saving you $500 – that’s 50% off!! Buy it on Amazon here.

BLUETTI is also offering Portable Power Station AC180 with 200W Solar Panel included. Ordinarily $1,598, the Prime Day deal price is $799, saving you $799 – also a fantastic 50% discount! Buy the bundle on Amazon here.

BLUETTI AC200L Portable Power Station

The BLUETTI AC200L is a portable power station that’s built to handle anything. With a powerful 2,400W AC output and a 3,600W Power Lifting Mode, it starts with a 2,048Wh capacity but can expand to a massive 4,096Wh with a B230 battery, or up to 8,192Wh with two B300 batteries (or 6,348Wh with two B210 batteries). Whether you’re prepping for an outage or hitting the road for an off-grid adventure, this portable powerhouse is ready for it all. Pair it with a 200W solar panel for easy, clean energy on the go.

Thanks to its LiFePO4 battery and advanced Battery Management System, you can count on the AC200L for efficient, quiet, and long-lasting performance – perfect for everything from daily electricity needs to outdoor adventures. Its versatility lets you power multiple devices, whether you’re cooking at camp or staying connected during a blackout.

One of the standout features of the AC200L is its solar capabilities. Supporting up to 1,200W of solar input, you can fully charge in just two hours with the right setup. No more stressing about losing power on long road trips or during extended camping stays – this station is designed to keep you powered up and ready for whatever comes next.

The AC200L’s list price is $1,999, but the Prime Day deal price is $1,199, saving you $800 – that’s a 40% discount. Buy it on Amazon here.

BLUETTI Fall Prime Day discount codes for Electrek readers

Here are the exclusive discount codes for Electrek readers:

  • To save an extra 3% on the AC70 Portable Power Station, use the code BLUETTI3OFF at checkout.
  • To save an extra 5% osn the AC180 and AC200L Portable Power Stations, use the code BLUETTI5OFF at checkout.

The codes are only valid on Amazon until October 31.

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This sovereign tribal nation’s school district just got electric school buses

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This sovereign tribal nation's school district just got electric school buses

Minnesota’s only public school district located within a sovereign tribal nation has added two new electric school buses to its fleet.

This makes Red Lake School District #38 one of the first public school districts in the US with a predominantly Indigenous population (98%) to tap into funding from the EPA’s Clean School Bus Program, which granted the district $790,000 to buy electric school buses and chargers. The school district’s curriculum includes teaching the Ojibwe language, Ojibwemowin, and Ojibwe traditions.

Tim Lutz, superintendent of Red Lake Schools, said, “As an educational institution, our priority is to provide learning opportunities for students and community members in as many ways as we can. We do this not only through our curriculum but also by embracing best practices in energy and sustainability while preparing our students for future careers. We’re proud to have acquired these two electric school buses, and we believe they will serve us well.”

The sovereign tribal nation’s district, which serves 1,560 students, partnered with Highland Electric Fleets, a company that provides Electrification-as-a-Service for school bus fleets in North America, to procure two Blue Bird Type C Vision Electric school buses and two EV chargers for its bus depot. The Vision Electric charges in six to eight hours and has a range of up to 130 miles. It has a Cummins PowerDrive 7000 propulsion system and a 155 kWh Li-ion NMC/ G cell battery.

Each of the new electric buses will transport about 50 students, and with the charging infrastructure in place, the electric buses will have an average range of 110 miles per day with a full midday charge. Together, the two buses are expected to cover around 10,000 miles per year.

Duncan McIntyre, CEO and founder of Highland Electric Fleets, told me in a video call, “School bus transportation is hyperlocal, and this project gave us the opportunity to meet Red Lake Nation where they are and help them further their mission of bringing safe, reliable electric school bus service to their community.”

Read more: Blue Bird just delivered its 2,000th electric school bus

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Robotaxi rumors, a Tesla van, FSD data calls, and leave Texas solar alone

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Robotaxi rumors, a Tesla van, FSD data calls, and leave Texas solar alone

On today’s episode of Quick Charge, rumors about a new Tesla van join the hype surrounding the Robotaxi reveal, and full self driving might be coming to the Tesla Semi. What’s more, Tesla is bringing back 0% financing on new Model Ys … if you buy FSD, that is.

We also explore BYD’s plans to sell 100,000 new EVs in North America next year, ZEEKR’s Europem [sic] expansion, and Texans’ take on government meddling in their solar rights. Enjoy!

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news!

Got news? Let us know!
Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show!

* EnergySage is a trusted affiliate of Electrek

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