Holiday prices are cheaper this year – but are US shoppers feeling the cheer?

Prices are starting to level out, with some toys, electronics and apparel cheaper than last year. Why are retailers expecting a muted shopping season?

Some good news for the holiday season: shopping for gifts this year will probably be a bit cheaper than last year. The bad news? Consumers just aren't feeling the holiday cheer - and with good reason.

After over a year of high inflation, prices in the US are starting to level out, with drops in prices of some goods. The cost of a dozen eggs went from an average of $4.83 down to an average of $2.07 this October. Gas prices surpassed $5 a gallon in summer 2022, and are now down to a national average of $3.30.