Are prices lower in stores compared to a year ago?

No, overall prices in stores are generally not lower compared to a year ago; they have continued to rise modestly on average, though the rate of increase has slowed significantly from the high inflation of 2021–2023, and some specific items or categories have seen declines or stability due to retailer discounts and promotions.[1]

Overall Inflation Context (US-focused)

•The Consumer Price Index (CPI) for all items rose about 2.9% from December 2023 to December 2024.[1]

•More recent data (as of September 2026) shows headline CPI up 3.7% year-over-year, with core CPI (excluding food and energy) at 2.6%. Energy prices have been a major recent driver of higher readings (e.g., gasoline up substantially in some periods), while food and other categories vary.[2]

•Inflation has cooled substantially from peaks above 6–8% earlier in the decade, but prices are still higher than a year prior in aggregate—not lower. Services (including shelter/rent) and some food-away-from-home prices have been stickier contributors to increases.[3]

Store/Retail and Goods Prices

Retailers actively cut prices and offered more discounts/promotions in 2024 to attract cautious consumers:

•Chains like Target (thousands of items), Walmart (thousands of “rollbacks”), and others reduced prices on groceries, household goods, toys, and more. This contributed to goods deflation in some periods.[4]

•Prices for goods were roughly flat to slightly down (nearly -1% in some months like August 2024) compared to the prior year in certain reports, even as overall CPI rose due to services.[5]

•NPR’s shopping cart tracking at a Walmart (96 common items, Dec 2023 vs. Dec 2024) found average prices up just ~0.7%. About half the items were unchanged, ~21 got cheaper (e.g., bananas, salmon, pork chops), and ~27 got more expensive (e.g., eggs due to avian flu, ground beef, milk). Over five years (vs. 2019), the same basket was up ~25%.[6]

Food-at-home (groceries) specifically:

•Rose ~1.2–1.8% in 2024 (well below historical averages and prior years’ 5%+ jumps). Some categories fell (e.g., fish/seafood, certain dairy), while eggs, beef, and others rose.[7]

•Energy-related store items (like gasoline) have fluctuated, with declines in some full-year periods (e.g., -3.4% for gasoline in 2024) but sharp rises later.[1]

Key Nuances

•Not uniform: Durable goods, apparel, used cars/trucks, and some commodities have seen declines or slower rises since the 2022 peak. Fresh produce and certain staples can be cheaper seasonally or due to supply. Eggs and some proteins have spiked due to disease outbreaks.[8]

•Perceptions vs. reality: Many people feel prices are much higher because they compare to pre-2021 levels (cumulative inflation remains elevated). Shrinkflation (smaller packages at similar prices) also occurs. Heavy discounting and private-label options can make effective prices lower for bargain hunters.

•International variation: Similar trends of cooling inflation with some shop-price deflation appear in places like the UK (shop prices falling in late 2024) and elsewhere, but results depend on the country and currency.[9]

•Data is primarily US-centric (BLS CPI, retailer reports, NPR tracking). Local store prices, promotions, and exact baskets vary widely. Check current local ads, apps, or the latest BLS CPI release for the most precise view.

In short, while many individual store items are stable, discounted, or cheaper than a year ago—and goods inflation has been low or negative at times—the broad basket of prices paid in stores is still higher on average due to ongoing (though milder) inflation.

Citations (9)

1bls.govGovernment
https://www.bls.gov/opub/ted/2025/consumer-price-index-2024-in-review.htm
Backs: “No, overall prices in stores are generally not lower compared to a year ago; they have continued to rise modestly on average, though the rate of increase has slowed significantly from the high inflation of 2021–2023, and some specific items or categories have seen declines or stability due to retailer discounts and…”
statistic, article, points to no. Claim: CPI for all items rose about 2.9% from December 2023 to December 2024; gasoline fell 3.4% in 2024.
2advisorperspectives.comNews and media
https://www.advisorperspectives.com/dshort/updates/2026/10/22/cpi-consumer-price-index-inflation-september-2026
Backs: “Energy prices have been a major recent driver of higher readings (e.g., gasoline up substantially in some periods), while food and other categories vary.”
statistic, data page, points to no. Claim: Headline CPI up 3.7% year-over-year as of September 2026, core 2.6%, with energy a major driver.
3alternativeinsidernews.comNot yet classified
https://www.alternativeinsidernews.com/inflation/inflation-rate-2026
Backs: “Services (including shelter/rent) and some food-away-from-home prices have been stickier contributors to increases.”
evidence, article, points to no. Claim: Inflation has cooled from peaks but prices remain higher than a year prior; services and shelter are stickier.
4retailbrew.comNews and media
https://www.retailbrew.com/stories/2024/12/18/2024-was-the-year-of-discounts-price-cuts-and-more-affordable-assortments
Backs: “Chains like Target (thousands of items), Walmart (thousands of “rollbacks”), and others reduced prices on groceries, household goods, toys, and more. This contributed to goods deflation in some periods.”
evidence, article, points to yes. Claim: Target, Walmart and other chains cut prices on thousands of items, contributing to goods deflation in some periods.
5investopedia.comCommercial contentquality 0.93
https://www.investopedia.com/shoppers-could-be-seeing-lower-prices-this-holiday-season-8729096
Backs: “Prices for goods were roughly flat to slightly down (nearly -1% in some months like August 2024) compared to the prior year in certain reports, even as overall CPI rose due to services.”
statistic, article, points to yes. Claim: Goods prices were flat to slightly down (nearly -1% in August 2024) year over year, even as overall CPI rose.
6npr.orgNews and mediaquality 0.93
https://www.npr.org/transcripts/nx-s1-5241014
Backs: “About half the items were unchanged, ~21 got cheaper (e.g., bananas, salmon, pork chops), and ~27 got more expensive (e.g., eggs due to avian flu, ground beef, milk). Over five years (vs. 2019), the same basket was up ~25%.”
statistic, article, neutral. Claim: NPR's Walmart basket of 96 items rose about 0.7% from Dec 2023 to Dec 2024; 21 items cheaper, 27 pricier.
7usda.govGovernment
http://ers.usda.gov/data-products/charts-of-note/110815
Backs: “Some categories fell (e.g., fish/seafood, certain dairy), while eggs, beef, and others rose.”
statistic, data page, points to no. Claim: Food-at-home prices rose about 1.2–1.8% in 2024, with some categories falling and others like eggs and beef rising.
8epi.orgNonprofits and think tanks
https://www.epi.org/blog/prices-have-fallen-in-key-sectors-since-inflation-peaked-in-2022/
Backs: “Eggs and some proteins have spiked due to disease outbreaks.”
evidence, article, neutral. Claim: Durable goods, apparel, used cars and some commodities have seen declines or slower rises since the 2022 peak.
9reuters.comNews and mediaquality 1.00
https://www.reuters.com/world/uk/uk-shop-prices-fall-faster-retailers-warn-risks-budget-2024-10-29/
Backs: “Similar trends of cooling inflation with some shop-price deflation appear in places like the UK (shop prices falling in late 2024) and elsewhere, but results depend on the country and currency.”
evidence, article, points to yes. Claim: UK shop prices fell in late 2024, showing some shop-price deflation outside the US.