Lately, products that posted some of the most notable price surges last year have seen slumping prices.

Lumber: Soaring wood prices were on the leading edge of 2021’s inflationary run-up, and even early this year they were still surging. They’re now down about 60% since March.

Used cars: Icarus-like used vehicle prices — driven by a shutdown of new production due to COVID — were a key driver of inflation in 2021. They’re basically flat this year, with leading indicators suggesting a relatively sharp turndown in prices from July to August.

Oil: Even before the war in Ukraine ignited a global energy crisis, prices for petroleum and gasoline were up markedly. But since crude oil prices topped out at over $120 a barrel in March, they’re down more than 25%.

Real estate: The key price category to watch for inflation is housing, which accounts for a massive share of the Consumer Price Index. Even there, a pronounced downtrend in prices has started to emerge.