Lower Prices Ahead? Forecasts Call for Drops in Gas, Groceries, While Restaurants Cool Their Hikes
• Gas prices expected to drop in 2024, with the yearly national average projected to be $3.38 per gallon • Food inflation should slow down, with grocery prices forecast to decrease 0.6% in 2024 • Home prices outlook uncertain - some predictions of small declines, while low inventory remains a challenge • Egg and milk prices already down from 2022 highs, with further decreases predicted in 2024 • Restaurant menu prices forecast to rise 4.9% in 2024 - slower than 2023's 7.1% pace