The grocery run, the fuel-up and the utility bill are all costing more these days — not to mention the surging home prices and rising rents. But a trip to the neighborhood dispensary might not elicit similar feelings of sticker shock.
While Americans have seen prices climb across most of their regular expenses, the cost of cannabis doesn’t appear to be increasing at a similar clip – and in some instances, a bag of edibles or an eighth of an ounce of flower might even be cheaper today than this time last year.
Prices of marijuana flower, edibles and vape products, when averaged by the price per milligram or gram of THC, declined by 16.7%, 11.8% and 12.4%, respectively, from January 2021 to January 2022, according to cannabis analytics firm Headset, which tracked sales in California, Colorado, Michigan, Nevada, Oregon and Washington.
“This would indicate that inflation has not yet affected the prices consumers are paying for recreational cannabis in the United States,” Cooper Ashley, Headset’s senior data analyst, told CNN Business via email.
While any cost savings are welcome news to consumers who are feeling price pressures elsewhere, the product trends don’t tell the full story, analysts say. Price declines may not mean cannabis is immune to inflationary effects, they’re just yet another example of the complex business dynamics playing out in this burgeoning industry. [Read More @ CNN]We Are Social