Current Events in September 2022

Inflation remained as hot as the August weather last month as prices paid by consumers rose more than expected.

The Labor Department reports the Consumer Price Index (CPI) increased 0.1% in August after being flat the month before. On a 12-month basis, consumer prices rose 8.3% – up from July’s 8.1%.

It might seem like a small increase but government economists were hoping the index would actually go down. After all, gasoline prices have been steadily falling for weeks. 

The price at the pump fell 10.6% last month. But consumers were spending more money elsewhere, especially at the grocery store.

Food costs were sharply higher

The cost of food prepared at home rose 0.7% from July to August and is up 13.5% over the last 12 months. For the first time, the cost of food purchased in restaurants rose even faster, gaining 0.9% in one month.

Because food and energy prices tend to be volatile, economists remove them from the equation and look at the “core” rate of inflation. In August, the core rate was up 0.6%, a larger increase than in July and a worrisome trend should it continue.

The cost of housing, medical care, household furnishings and, operations, new vehicles, motor vehicle insurance, and education were among those that increased over the month. There were some costs that declined in August, including those for airline fares, communication, and used cars and trucks. 

Here’s how those one-month cost increases break down:

• Shelter - up 0.7%

• Medical care services - up 0.8%

• Household furnishings - up 1%

• New vehicles - 0.8%

• Car insurance - up 1.3%

• Education - up 0.5%

A few costs were lower

There were only a few areas where consumers paid less last month, led by gasoline, which was down 10.6% from July to August. Air fares also dropped dramatically, declining 4.6% following July’s 7.8% decline. 

The price of used cars and trucks continued to fall from its June peak. The used vehicle index declined 0.1% in August after falling 0.4% in July.

New car prices are still near record highs and interest rates continue to rise, making the purchase of a new car increasingly expensive. But it turns out there are five lease deals this month with monthly payments at or below $199 a month.

Automotive publisher Edmunds dug up the deals but notes these vehicles are not the most popular with consumers, which is why they are priced the way they are. Some require large initial payments, which must be considered along with the low monthly payment.

Let’s start with two Buick Encore models – the Encore and the Encore GX. They both list for about the same – just over $27,000. However, the Edmunds editors favor the GX over the Encore for its “sprightly acceleration, competent handling, and a robust list of tech features.”

Both small SUVs have $199 monthly payments but aren’t the values they might first appear. Both are 24-month leases and require upfront payments of over $5,600. When factored into the total cost, that $199 monthly payment is more like $432.

The 2022 Chevrolet Trax is also a 24-month lease but has a slightly lower initial payment – $4,319. The downside? The Edmunds editors say the Trax is small and practical, “but it's also slow and it doesn't have the best ride.”

36-month leases are more affordable

The 2022 Hyundai Venue may be the most attractive lease deal available in September. It's Hyundai's smallest SUV and the Edmunds reviewers say the Venue, “packs a lot into a very compact package.”

The MSRP is $20,295 but the lease carries a monthly payment of just $169 a month for 36 months. Even when adding in the $3,200 due at signing, the monthly cost is only $257.

The last vehicle on the list is the only sedan, the Hyundai Elantra. With an MSRP of just over $21,000 the Elantra lease is for 36 months and a monthly payment of $199 – $287 when the $3,200 upfront cost is considered.

The Elantra choice is a popular one with the Edmunds editors, who say that it “stands out with its high fuel economy, impressive technology and safety features, and roomy cabin.”

Things to consider

All of the lease deals end at the end of the month or early October. Keep in mind that these deals are not available in every state so car shoppers should make sure dealers in their states will honor them. Consumers leasing a vehicle in this environment should be mindful of one other thing.

The “residual” value of the vehicle, what it can be purchased for at the end of the lease, has never been higher because of the current high market value of used cars. Chances are, at the end of the lease the market will be back to normal and the vehicle will be worth less than its residual value.

Anyone leasing a car now should be prepared to turn it back in at the end of the lease, taking good care of it and staying under the mileage limit.

It looks like Kroger has spent some serious time listening to the consumer. With sentiment firmly moving towards private labels and budget brands, the largest supermarket chain in the U.S. is rolling out Smart Way, a new low-cost line that brings 16 legacy brands into a single, easy-to-find name.

Those Smart Way products will come from Kroger’s Simple Truth, Private Selection, Heritage Farm, and Home Chef lines. Kroger’s recent second-quarter results proved that adding muscle to its private label selection has little to no downside, with private brand sales up 10.2% in the quarter.

"As our customers face an ongoing inflationary environment, we know they are looking to stretch their dollars further than ever before," said Stuart Aitken, Kroger's senior vice president and chief merchant and marketing officer.

"Smart Way is an exciting, eye-pleasing product line that will be easy for customers to find. By adding a simplified opening price point brand strategy to Our Brands portfolio, we will further cater to every customer, every time."

Grocery shoppers can find 150 Smart Way products on shelves nationwide now, with additional items available later this fall.

There’ll be more, analysts say

Kroger may be the lead horse in the race to offer consumers all the budget items they can handle, but it will probably see others gathering speed soon.  

Consumer rewards platform Ibotta has been gathering consumer data specifically focused on food-at-home staples – butter, dairy, beverages, cereal, bread, bakery, flour, and meals – trying to determine the brands that are winning. In fact, private labels led the pack in every category except cereal – indicating a major “trade down” trend of consumers buying more of those items instead of branded ones. 

“That said, while there isn’t direct evidence that food prices are falling just yet, it’s interesting to see where consumer preferences lie right now – and it seems that the preference is opting for the cheaper option vs. staying loyal to name brands,” Chris Jensen, executive vice president of Revenue at Ibotta, told ConsumerAffairs.

One interesting budget-friendly twist that no one saw coming could soon show up in the dairy section. With grocery shoppers paying 47% more for eggs compared to what they paid a year ago, a company called JUST Egg has developed an egg made entirely from plants.

To prove its point, Andrew Noyes, vice present, head of Global Communications & Public Affairs at Eat Just, Inc., the parent company of JUST Egg, told ConsumerAffairs that a recent survey found that a plant-based diet was $23 a week less expensive than one that included meat. 

“More consumers are showing an interest in plant-based eggs as grocery prices soar, with search queries for ‘price of eggs’ vs ‘vegan eggs’ trending similarly, now with the latter search term surpassing the former,” he said.

Noyes said that just as Kroger found, shoppers are looking for ways to save at the grocery store, and are not as brand loyal as they once were, leading to an increase in new products and brands ending up in the cart. Not only is price a pitch point for JUST Egg, but so are other factors such as avian flu and other foodborne illnesses, which are practically non-existent in the plant-based version

“As consumers are examining their grocery bill, there’s one thing they don't have to think twice about, and that’s incorporating more plant-based options without paying more - or sacrificing taste and quality,” Noyes concluded.

Consumers who have put off buying a vehicle for well over a year because of low supply and high prices still aren’t getting much relief. While used car inventories are growing again and prices have softened, new cars and trucks still carry a high price tag.

Data compiled by iSeeCars.com shows dealers continue to mark up new cars over the manufacturer’s suggested retail price (MSRP), with the average transaction price (ATP) now 10% above the sticker price.

And that’s just the average. Karl Brauer, executive analyst at iSeeCars, says the average Jeep Wranger ATP is now 24.4% above the MSRP. The Porsche Macan is being marked up by 23.1% and the Genesis GV70 by 22.4%.

Brauer notes the average new car price in the February to March period was $41,722. In the July to August period, the average new car price had risen to $43,528. 

“Both prices are about 10% above MSRP, so that percentage isn’t changing, but MSRPs have gone up and so have transaction prices,” Brauer told ConsumerAffairs. “The only new car selling below MSRP is the Chevrolet Bolt – just barely below MSRP.”

Lower used car prices

There was some relief on the used car lot last month. Wholesale used-vehicle prices on a mix, mileage, and seasonally adjusted basis fell 4.0% in August from July, according to the Manheim Used Vehicle Value Index. The index declined to 210.8 in August but is up 8.4% from a year ago. 

In August, the Manheim Market Report (MMR) values saw larger-than-normal declines that were consistent over the month. In August, the index for three-year-old vehicles – the hottest segment among used vehicles – dropped a net 2.5%. 

Over the month of August, daily MMR Retention, which is the average difference in price relative to current MMR, averaged 98.3%, meaning market prices were below MMR values. The average daily sales conversion rate increased to 50.5%, but that is still below normal for the time of year. 

The data shows that both the new and used vehicle markets have yet to recover from the effects of the COVID-19 pandemic. Pandemic-induced supply chain interruptions reduced the number of available new cars and trucks. 

Not only did the shortage of new cars raise prices, it sent more consumers to the used car lot, driving prices of used cars and trucks to record highs.

While receiving spam messages has become commonplace for consumers, there are dangers associated with these robocalls and texts. Now, Robokiller, an app designed to help mitigate the number of spam calls and texts that consumers receive, has released its mid-year phone scam report for 2022, which shows just how prevalent these scams are across the country. 

Based on figures from halfway through this year, Americans are expected to be on the receiving end of 86 billion robocalls but nearly 150 billion robotexts. These figures are significantly higher than what they were at the end of 2021. 

Scammers are on the hunt for consumers’ personal information – Social Security numbers, bank account information, passwords and usernames, and credit card numbers.

These calls and texts are used to obtain sensitive information that can be used to steal money or commit other forms of financial fraud. The Robokiller report predicts that Americans will lose nearly $90 billion in these scams this year, which is nearly 120% higher than in 2021. 

What should consumers look out for? 

According to the Robokiller report, imposter scams are one of the most popular methods for robotexts and calls. Scammers are sending texts or making calls posing as representatives from big-name brands, like Amazon, Target, or Apple, in the hopes that consumers will respond at the sight of a recognizable company. 

However, it’s also important to note that different times of year yield different types of scams. When the weather gets warmer, these messages are likely to offer consumers deals on travel or vacations. Then, as the holidays approach, text scams related to delivery dates and tracking packages are more likely to surge. 

One of the biggest changes is how scammers are reaching their victims, as robotexts have become the primary method of attack. Not only are consumers losing more money as a result – $1,000 versus $900 at this point last year – but these texts are becoming increasingly more common across the country. In all of 2021, consumers received 88 billion robotexts. That figure is expected to nearly double by the end of this year. 

The issue is widespread

A recent report out of Kansas highlighted just how widespread the issue has become. Residents reported receiving text messages that were allegedly linked to the United States Postal Service (USPS) and UPS, indicating their packages couldn’t be delivered due to issues with addresses. Many of the messages also prompted recipients to provide more personal information in order to receive their packages. 

Authorities are encouraging those who have received these text messages to avoid clicking on links, and most importantly, not providing any information to scammers.

Additionally, the USPS wants consumers to report these scams to its Inspection Service by email at spam@uspis.gov. While the organization does offer customers text services to track their packages, you must sign up for such messages and provide a tracking number. 

How to protect against robocall/text scams

Both the USPS and Robokiller offer consumers some tips to better protect themselves against these scams. One of the top ways to ensure that scammers can’t get your phone number is to opt-out of text messages – even those from legitimate brands.

Blocking unknown numbers is also beneficial, and is a guaranteed way that strangers can’t contact you. Or, change a setting on your phone that filters unknown senders, which will prohibit unknown numbers from contacting you. 

Reporting spam messages is another way to help protect yourself and work to prevent future attacks. Consumers can visit ReportFraud.FTC.gov to file a report with the FTC or forward the text to 7726 (SPAM). 

Additionally, refraining from providing any personal or sensitive information to unknown callers or texters is always of the utmost importance. 

Would you believe there’s a new “golden age” of fast food? Among the Top 10 chains, more than 1,000 units have popped up in the last year or so, all reflecting the double-digit sales consumers are ringing up.

Trying to please all those fast food lovers showing up in the drive-thru lanes, chains are adding everything shy of glazed donut salads and pork rind sundaes to their menus to make consumers lick their chops in anticipation.

They’ve got the meats!

Here’s a quick review of what’s in store the next time you venture out for a quick bite to eat:

Chipotle: Chipotle said it is trying out a new chicken option, Chicken Al Pastor, at 94 restaurants in Denver and Indianapolis. The chain is also adding new menu bowls and tacos based on the ‘88 Club -- a Dallas Cowboys championship team. For example, the "Michael Irvin Bowl" has chicken, brown rice, black beans, fresh tomato salsa, cheese, lettuce, and some guacamole and queso blanco.

Sonic: Sonic is going north of the border for some inspiration with a cheeseburger inspired by Montréal steak.

McDonald’s: After it sold out of its new Chicken Big Mac in 10 days in the U.K., McD's has brought it to the States. It’s currently being tested in Miami, but if all goes well, it could start showing up in the franchisees’ other “hen houses” around the country.

Del Taco: Tortas – Spanish for sandwich – are regular menu items at sit-down Mexican restaurants, but Del Taco thinks fast food eaters would like them too. Soon, all 600-plus Del Taco locations will have three varieties of the new fully-stuffed 7-inch Epic Tortas – Chicken BLT, Crispy Chicken Guac, and Carne Asada & Queso. 

Popeyes: The New Orleans-flavored chain is thinking a little outside the box with Surf & Turf, a shrimp and chicken combo sandwich, and returning the 8-piece Hushpuppy Shrimp to the menu. 

Breakfast anyone?

Chick-fil-A: To try and please its breakfast bunch, Chick-fil-A is giving baked egg bites a whirl.

Hardee’s and Carl’s Junior: The pair aren’t copying each other, but since they're sister chains serving different parts of the country, both Carl’s Jr and Hardee’s are testing similar sandwiches served on King’s Hawaiian Bread. Both have breakfast and chicken sandwiches on King’s bread, but Carl’s is also giving a King Hawaiian double cheeseburger a shot as well.

McDonald’s: Ronald has decided that Americans would love a cheese Danish – resplendent with sweet cream cheese and vanilla sauce – so we’re getting one starting September 14 on the chain’s McCafé Bakery menu.

Wendy’s: If Wendy’s is part of your rise-and-shine, heads up, now on the chain’s breakfast menu are French toast sticks.

Seasonal delights

Who’s got the sweets? Plenty of seasonal pumpkin’y options to be found on menus, too. 

Chicken Salad Chick: The chain is offering a new pumpkin cheesecake for the season.

Freddy’s: Its Pumpkin Pie Concrete is set to return to the menu for a limited time, as well.

Starbucks: The caffeine queen has brought back its Pumpkin Spice Latte for the 19th year, and with it, the first recurrence of the Apple Crisp Macchiato, now made with oat milk. 

Smoothie King: It is Fall, after all, so the smoothie chain is trying to do the same thing as Starbucks, but on the chilly end of the spectrum, by rolling out pumpkin drinks for the fall, plus two new (and permanent) coffee options – espresso and cold brew coffee.

Popeyes: If you want some dessert to go with your chicken sandwich order, Popeye’s is introducing Banana Cream Cake and bringing back those Chocolate Beignets that proved to be a big hit a couple of years ago. 

Non-meat alternatives are getting some new action, too.

Baja Fresh: After a successful trial, Baja Fresh is giving its Impossible Taco Combo, Fuego Impossible Burrito, and Impossible Bowl all permanent spots on the menu.

Burger King: Burger King is also testing a meatless chicken substitute at its Cincinnati-area stores.

Taco Bell: Not to be outdone, Taco Bell fans in Birmingham, Ala. are getting another reason to be cheesin’ for the season. For a limited time, they can buy the meat-free Crispy Melt Taco, resplendent with shredded cheddar, mozzarella, and Monterey pepper jack cheeses, plus warm nacho cheese sauce.

Meijer, the superstore chain that’s primarily found in the Midwest, announced that it will be opening a new type of store in 2023. Dubbed “Meijer Grocery,” the new facilities will focus on making fresh foods more accessible to consumers at reasonable prices, while also transforming the shopping experience to make it more efficient. 

The stores are being designed with parking spots centrally located in one corner entrance of the store. This will create more spots closer to the entrance, and help shoppers get in and out of the store faster. 

Rather than carrying everything from electronics, gardening supplies, and clothes, Meijer Grocery will scale back a bit to focus specifically on making grocery shopping easier and faster for shoppers. The new stores will feature fresh produce, a pharmacy, a bakery, party decorations, dry grocery goods, a floral department, a fresh meat counter, health and beauty items, a full-service deli, pet goods, and baby items. 

“We’re excited to provide our customers with yet another way to shop,” said Don Sanderson, group vice president of foods at Meijer. “This new concept store will not only provide our customers with everything they need on their weekly shopping trip but also a quick and easy solution for when they realize they left the key ingredient off their list while cooking dinner.” 

Currently, two Meijer Grocery stores are scheduled to open in Michigan in 2023 – one in Macomb Township and the other in Orion Township. Shoppers will have the same perks in Meijer Grocery as they do in the traditional Meijer stores, including delivery and pickup services, mPerks, and Shop and Scan. 

Meijer pharmacies to start administering updated COVID-19 boosters

Recently, the U.S. Food and Drug Administration (FDA) approved an updated COVID-19 vaccine to be used for boosters – Moderna and Pfizer’s bivalent vaccines. The bivalent vaccines are expected to provide greater protection against the virus, as they contain mRNA components from both the BA.4 and BA.5 strains of the omicron variant and the original strain of the virus. 

Meijer has since announced that its pharmacies are fully equipped to administer the new booster shots to patients. The company says that patients can also go to their pharmacies for vaccines for the flu, shingles, meningitis, pneumonia, tetanus, whooping cough, and others. 

“The pace of our household routines began to increase with the return to school and will extend through the holidays into the new year,” said Jackie Morse, vice president of pharmacy at Meijer. “Combining your flu and other vaccinations when receiving your updated COVID-19 booster not only saves time but can have real benefit as we look forward to spending time with friends or attending concerts, sporting events, and family gatherings.” 

Scientists say the Thwaites Glacier in Antarctica may be melting faster than in past years, raising concerns about the consequences if it shrinks faster than expected.

It’s actually nicknamed the “doomsday” glacier because of what could happen if it began to rapidly add water to the ocean. In a study published in the journal Nature Geoscience, researchers suggest the massive ice sheet could begin melting twice as fast as in the past.

To make their projections, the scientists studied the glacier’s movements over the last few decades. By studying tracks on the seabed, researchers were able to measure how far the ice has traveled over the last 100 years.

While the giant block of ice appears to be moving faster than in the recent past, suggesting a higher melt rate, it’s melted even faster in the past. The scientists determined that the glacier was shrinking at over 1.3 miles per year a century ago. That’s nearly twice as fast as it moved in the period from 2011 to 2019.

“Understanding the recent history of Thwaites Glacier, and the processes controlling its ongoing retreat, is key to projecting Antarctic contributions to future sea-level rise,” the study’s authors wrote. “Of particular concern is how the glacier grounding zone might evolve over coming decades where it is stabilized by sea-floor bathymetric highs.”

Faster sea level rises

The concern, of course, is how a faster melt might affect sea levels. The glacier is about the size of the state of Florida. Should it completely fall into the sea – something that isn’t expected to happen within this decade – scientists believe it could raise sea levels by up to two feet.

By way of comparison, the North American ice sheet that covered all of Canada and the Northern U.S. during the ice age, melted fairly rapidly at the end of the last ice age with extreme increases in sea level. According to Scientific American, sea level in some places had increased by 30 feet within a few hundred years, “more than if the ice sheet that still covers Greenland were to melt today.”

Anna Wåhlin, a professor of physical oceanography at Sweden’s Gothenburg University, says there are a lot of different scenarios that could play out for the Thwaites Glacier, not all of them bad.

"Exactly how big a threat there is is unfortunately still difficult to answer, but the fact that we finally have a data point that the models can tie back to is an important part of the puzzle," Wåhlin told NBC News.

The median U.S. home price declined slightly in July, the first time in years that prices have fallen. Black Knight, a housing data firm, reports the median home price fell 0.77% from June, the largest single-month decline since January 2011.

Over the last few months, Black Knight’s data shows prices were still rising but at a slower pace each month. The drop, while small, could be good news for buyers if the trend continues.

"Annual home price appreciation still came in at over 14%, but in a market characterized by as much volatility and rapid change as today's, such backward-looking metrics can be misleading as they can mask more current, pressing realities,” said Black Knight Data & Analytics President Ben Graboske. 

Graboske says the slowdown in the market has been showing up in the data over the last several months. He says that in January, prices rose at 28 times their normal monthly rate before slowing to five times average in February. That, he notes, was when interest rates began to move higher.

“Even May was still about two times normal before June growth came in 70% below the long-run average,” he said. “Without timely, granular data, market-moving trends don't become apparent until they're right in front of you – like a sudden shift to the largest single-month decline in home prices in more than a decade.”

Embracing renting

Rising interest rates have simply made today’s expensive homes unaffordable for many Americans. Rather than buy a small, entry-level home they will quickly outgrow, real estate expert Kurt Carlton, president of investor support firm New Western, says many younger consumers have embraced renting as a way to obtain more living space.

“(The) desire for rental homes has increased as millennials are having children and seeking flexibility,” Carlton told ConsumerAffairs. “This demand vacuum has drawn in institutions who have continued to standardize the single-family rental market.

According to the Black Knight report, prices are not easing in a uniform pattern, with price cuts occurring most frequently in the most expensive markets.

But the report shows that more than 85% of the 50 largest U.S. markets are at least marginally off their peak prices through July, with home prices down by less than 1% in a third of the market, and more than one in 10 seeing prices fall by 4% or more.

Many drivers may not even know their car has a catalytic converter. Thieves know, and they are stealing them in greater numbers.

Local police departments from California to Connecticut have reported a flood of thefts over the summer. Police in Washington, Mo., say four cars at an auto dealership were stripped of the equipment in one night.

“It could’ve been a group of people. It could’ve been one person,” Detective Lt. Steve Sitzes, public information officer for the Washington Police Department, told eMissourian.com. “It doesn’t take many people to chop one of those off.”

New York City police report the calls from angry motorists have surged in recent weeks. Police say there were 362 reported catalytic converter thefts on Staten Island alone from January to mid-August, a 670% increase over the same period in 2021.

However, that pales in comparison to Phoenix. Police there say case numbers have risen from 67 in 2019 to 4,718 in 2021. Because of a shortage of police officers on the force, there is a backlog of complaints that have yet to be investigated.

An expensive repair

The cost to replace a stolen catalytic converter isn’t cheap. According to CarBrain.com, replacement costs can range from just under $1,000 to nearly $2,500.

All cars produced since 1975 come equipped with a catalytic converter on the vehicle’s underside. Its job is to capture the toxic fumes coming from the car’s engine before they can escape into the atmosphere.

So what’s so valuable about that, you might ask? Thieves are not stealing the devices for what they do, but for what’s inside them.

The devices contain several rare earth metals, such as platinum and palladium, where there are just two main sources – South Africa and Russia. While thefts have been steadily climbing they escalated early this year when Russia invaded Ukraine, limiting some of the supply. Existing rare earth metals now carry a premium on the black market.

Special targets

Any vehicle is a potential victim but hybrids are special targets. That’s because each vehicle has two catalytic converters, one for the gasoline-powered engine and one for the electric motor.

Among hybrids, a Toyota Prius is a special target because its catalytic converter contains larger concentrations of the prized metals. Thieves also seem to prefer vans because they sit higher off the ground, making it easy to slip under and remove the device.

To protect your vehicle, it’s wise to park your vehicle in a locked garage, if possible. Otherwise, leave it overnight in a well-lit location.

Since thieves have brazenly stolen catalytic converters while the vehicle was parked in a department store parking lot, it's best to park near the business’s entrance where the car can be seen by other shoppers and the store’s surveillance cameras.

The new Apple iPhones (14, 14 Plus, and 14 Pro) have landed. Do they meet all the “magical,” “groundbreaking,” “innovative” superlatives that Apple promised? Does anyone really care?

ConsumerAffairs asked DealNews’ Consumer Analyst, Julie Ramhold, to give us her takeaway – from pricing to when the right time to buy is. Here’s what she had to say…

Lackluster interest pre-event

Headed into the event, a recent DealNews.com poll found that a slim 6.6% of readers planned to buy the new iPhone 14 the moment it dropped, but 70% said they probably wouldn’t buy it at all. Why is that?

“Technology has definitely improved over where it was several years ago, but the leaps from one generation to the next aren't necessarily anything groundbreaking anymore. Because of that, and the fact that phone carriers aren't subsidizing purchases anymore, many consumers are finding it easier and more affordable to just continue to use the model they already have as long as it's in good working condition,” Ramhold said.

“Many are trying to refrain from upgrading unless their device is seriously outdated (as in, no longer receiving security updates) or has been broken beyond repair as a new smartphone routinely costs closer and closer to $1,000 for many now.”

Pricing turned out to be a relief

No surprises here, Ramhold said, adding that the prices were right on target with what her team expected. 

“These are the starting prices we see with new gadgets released every year, and while it would be nice to see them start at lower prices, at least they aren't priced even higher. This is especially good considering the iPhone 14 will start at $799, and top out at $1,099 for the iPhone 14 Pro Max,” she said.” In her opinion, while the iPhones appear to be pricey, they’re not exorbitantly so.

What are the best times to purchase the latest Apple gadgets?

“Black Friday is often the best time of year to purchase new Apple devices, period,” is Ramhold’s opinion. From her experience, when a new generation of devices first comes out, the previous generation (iPhone 13) will typically see a permanent price cut and satisfy the desires of most iPhone lovers.

“But even so, Black Friday usually brings additional savings that are hard to beat and rarely pop up at other times of the year. I would say that occasionally in the summertime around back-to-school season, Apple itself will offer things like new MacBooks with a free pair of Beats headphones or something like that for those that may be headed off to college. However, even then, you may want to look elsewhere to find better deals on a new computer.”

However, for consumers who embrace the trade-off of “free” vs. “long-term contractual commitment,” they might find what AT&T is offering attractive. Beginning Friday, the carrier is offering the iPhone 14, Pro, and Plus for free, and the iPhone Pro Max for $99 -- a cool $1,000 -- off if they trade in an eligible smartphone, or sign up for a qualifying installment and a qualifying Unlimited plan.

About those previous generation phones

When asked for her tips on how consumers can save on previous generation phones, Ramhold offered these two points:

Shop around. Gotta get while you can, apparently, because Apple will only offer previous generation iPhones for so long. And you should be prepared to look elsewhere, including at stores like Target and websites like eBay where you may need to shop via third-party sellers to find good deals.

Consider refurbished. The rule of thumb for refurbished is that the older the model, the harder it may be to find a brand-new version of it.  So if you can find an unboxed older generation iPhone, you should grab it. Even "factory-refurbished" phones are good deals because while they’ve seen some action, it’s a safe bet that they were refurbished to the point where they might have nothing more than minor cosmetic issues. Otherwise, they should work like new. 

The important thing is to buy refurbished devices from reputable sellers who have good ratings, offer returns, etc. Ramhold suggested that platforms like eBay are sticklers when it comes to how sellers define “refurbished,” and it’s always smart to read those particulars.

“Test before you buy a refurbished model, if possible. If you're shopping in person, you should ask if you can see the device in action before you buy it. That is, ask to plug it in, turn it on, make sure there aren't any dead pixels and that it's actually charging before you walk out of the store with it,” are her recommendations.

“If the seller won't allow you to check the status of the item before buying it, consider it a red flag and walk out on the sale."

Where are the best places to buy the new Apple products?

From having tracked these new releases before, Ramhold says that more often than not, big box retailers like Target or Best Buy are ideal places to shop. “Even Amazon and Walmart can be worthwhile retailers to shop for the latest gadgets.”

Interestingly enough, though, she says that consumers should avoid buying directly from Apple online or at an Apple store. “Basically the biggest reason to not shop at Apple is that it rarely offers discounts –  in fact, it's notorious for not having a Black Friday sale. It may offer surface-level savings, but overall you're going to find better deals and potentially better perks by shopping elsewhere,” she concluded.