20 products that are cheaper today than 10 years ago
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Market competition helped minimize the increase in some of these items; aspirin and airfares are two good examples. Some prices were directly affected by the market collapse, such as Walmart stock, while the drop in the cost of a house loan has come about at least in part due to government monetary policy.
Other companies found it difficult to increase prices enough in the face of a recession to keep up with inflation; Harley-Davidson and its Sportster motorcycle, for example. The recession also brought about a drop in discretionary spending, one reason for the decline in value of the Hummel figurine.
Still other companies found ways to lower the cost of production of items, allowing them to give more value for a better price; the Sears paint and Volkswagen Golf are likely examples of this. Polished logistics allow streamlined shipping of items such as bananas and apples.
Finally, diminishing demand has forced some industries to cap price increases; the CD industry, for example, must compete with the $0.99 download.
Here is an expanded list of products that sell for less today than what we might have expected, given inflation since 2000.
|Product||2000 price||Expected 2010 price w/ inflation||Real 2010 price||Savings|
|Hummel "To Market" figurine||$120.00||$152.40||$49.99||67.20%|
|Martini and Rossi Asti Spumante||$12.99||$16.50||$8.29||49.75%|
|$200K house loan, 30 yr. fixed, total payout||$610,560.00||DNA||$455,760.00||41.22%|
|Bayer aspirin, 100 ct.||$7.69||$9.77||$6.49||33.55%|
|Wal Mart stock||$53.75||$68.26||$48.80||28.51%|
|Sears Best Easy Living|
interior paint, satin
|Average domestic airfare||$318.00||$403.86||$319.00||21.01%|
|Average wedding cost||$18,900.00||$24,003.00||$19,581.00||18.42%|
|Nike athletic shoes for NBA player of the year||$150.00||$190.50||$160.00||16.01%|
|James Patterson bestseller||$25.95||$32.96||$27.99||15.07%|
|Volkswagen Golf base model||$15,900.00||$20,193.00||$17,490.00||13.39%|
|Vita-Mix blender 5000/5200||$400.00||$508.00||$450.00||11.42%|
|Starbucks house blend 1 lb. beans||$9.65||$12.26||$11.37||7.23%|
|Bananas, 1 lb.||$0.49||$0.62||$0.58||6.80%|
|Levi's, men's, 505||$36.99||$46.98||$44.00||6.34%|
|Red delicious apples, 1 lb.||$0.95||$1.21||$1.16||3.85%|
|McDonalds Big Mac||$2.50||$3.18||$3.09||2.68%|
|Sears DieHard Gold North car battery||$80.00||$101.60||$99.99||1.58%|
|Harley-Davidson 883 Sportster motorcycle||$5,595.00||$7,105.65||$6,999.00||1,50%|
See more from Mint:
*Buying in Bulk: When do you save
*Credit cards and college kids
*Resisting the urge to splurge
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