Full list of 10 products that are actually CHEAPER now compared to the start of the year

The cost of living remains close to a 40-year high with prices rising at an alarming rate over the last year.

The consumer price index (CPI) level of inflation, which is used to measure how the price of goods and services has changed, currently sits at 10.7%.

This is down from a 41-year high of 11.1%, as families continue to feel the squeeze of higher energy and food bills.

But some products have fallen in price this year, according to comparison website PriceSpy - with popular items like the PlayStation 5 and Apple AirPods included in the mix.

PriceSpy data shows PlayStation 5 consoles have dropped in price by 12% over this year, marking a saving of £53.60 on average.

The PlayStation 5 has dropped in price this year (NurPhoto via Getty Images)

Xbox Series X consoles are £140.39 cheaper, a 31% saving, while Apple AirPods have fallen in price by £43.45 on average, also a 31% saving.

Other products that have dropped in price include the Dyson Airwrap, down £164, or 23%, while Paco Rabanne perfume costs £23.65 less, a huge saving of 48%.

PriceSpy looked at the difference between the lowest weighted average price on January 1, 2022 compared to December 19, 2022.

Of course, you should always still do your research to make sure you're getting the best possible price.

Start by comparing prices online, then check for discount codes to see if you can reduce your cost. Finally, check if you can get cashback on your purchases.

Liisa Matinvesi-Bassett, UK country manager at PriceSpy, said: “No-one is immune to the cost of living crisis.

“Price rises across the board are causing strain for many and have made once easily accessible purchases no longer justifiable.

“However the good news is that a number of popular items have fallen in price a lot this year, from necessities like vacuum cleaners to luxuries like perfume.”

10 products that are cheaper now compared to start of the year

• Sony PlayStation 5 (PS5) 825GB (£53.60 saving / 12% saving)
• Microsoft Xbox Series X 1TB 2020 (£140.39 saving / 31% saving)
• Apple AirPods (3rd Gen) Wireless In-ear with MagSafe Charging Case (£43.45 saving / 31% saving)
• Dyson Airwrap Complete (£164 saving / 23% saving)
• Paco Rabanne 1 Million EDT 100ml (£23.65 saving / 48% saving)
• Dyson V15 Detect Absolute Cordless (£101.65 saving / 18% saving)
• Amazon Fire TV Stick 4K (£12.83 saving / 26% saving)
• Fitbit Charge 5 (£24 saving / 20% saving)
• Ring Video Doorbell 3 (£13 saving / 11% saving)
• Chanel No.5 EDP 100ml (£19.65 saving / 17% saving)