Mill Street Research @millstreetresearch.com · Jun 26 The news of Apple's big price hikes gave a sharp reminder of the drastic shift in Technology hardware pricing. After many years of mostly deflation in tech hardware (after adjusting for quality), we are now seeing rapid (10%+ year-on-year) price increases.
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Before COVID, the general trend was that goods got cheaper while services (including housing) did not. Services inflation has moderated since COVID but still elevated (3.8%), while goods inflation has returned rapidly (now 4.8%) due to tariffs, AI, and commodity costs.