This is the 972nd most frequent Greek word.
πέφτει
"Πέφτει" means "falls" in English.
Here, 'πέφτει' is used in its literal sense, describing the action of falling.
Το φύλλο πέφτει από το δέντρο.
The leaf falls from the tree.
In this context, 'πέφτει' metaphorically describes a decrease in the cost of living, emphasizing a reduction.
Το κόστος διαβίωσης πέφτει αυτή τη χρονιά.
The cost of living decreases this year.
Once more, 'πέφτει' is used literally to describe the gentle action of snow falling.