Artificial intelligence is revolutionizing consumer technology but its rise is also causing a shortage of memory chips, leading to increased prices for personal computers. According to Oxford Economics analysts, this marks the first time computer costs have risen since the early 1980s.
Recent data shows that the cost of computers, software, and accessories has surged by over 3% each month, according to an analysis of government data. Bernard Yaros, lead economist at Oxford Economics, told CBS News that chip-intensive products typically see flat or decreasing prices, making this a significant trend.
The chip shortage is expected to persist through the end of 2027 as surging AI investment boosts computer costs in the short term but waning consumer demand for hardware could eventually bring prices back down. Additionally, rising energy consumption from data centers and increased spending on technology stocks are further contributing to inflation.
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