Is it time for a new battery? I have an iPhone SE, for just over a year. My battery health which I find in settings is decreasing quite rapidly. 

Right now it is at 94%:



Recently it has been going down around 1% a month. 

After December 31st, the battery replacement will be more expensive. When should a battery be replaced and do you think it is time to replace mine? Are my vlaues normal?
No, you do not need and should not get a new battery. 94% after a year is pretty good. Apple’s recommendation is a replacement if the battery gets below 80% of maximum capacity. The cost increase after the 31st isn’t so much that it’s worth replacing so early.

For context, my iPhone 6s, which I received the day it was released, is at 75% maximum capacity after pretty heavy usage for over 3 years, so you don’t have anything to worry about for a while. (I’m hopefully going to get the battery before the end of the year.)