It’s funny because as we get older many of us reminisce about the once low cost of items. It’s one of the reasons I found a list by a writer for U.S. News & World Reports so interesting.
He recently put together a list of some of the items that are cheaper now than they were 10 years ago. To give you a little background, these are prices for goods and services that have risen in price but by less than inflation over the last ten years.
Here are some examples of what he found:
- The furniture you sit on has fallen by about 12 percent 2000, while the cost of a TV has plunged by 84 percent.
- The cost of big appliances like refrigerators and dishwashers has barely changed since 2000.
- The cost of small appliances like coffee makers, toasters, and blenders has dropped by about 23 percent, while dishes and flatware are down about 28 percent.
- The cost of bedroom furniture has dipped by about 4 percent since 2000, while bedding, window treatments, and linens have fallen by more.
- Tools, paint, hardware, and lawn and garden equipment are about 4 percent cheaper than they were 10 years ago.
- The cost of apparel in general has fallen about 8 percent since 2000, with men's clothing down by about 12 percent and women's by 10 percent. The cost of kids' clothing has plummeted by about 27 percent.
- The average cost of a new car is about 3 percent lower than in 2000, despite better safety equipment and more advanced electronics. Used vehicles are down even more, by about 8 percent.
- Overall, the cost of toys has fallen by 44 percent since 2000, one of the biggest price drops for any category.
Much of this is due to other countries taking over the manufacturing of many of the products we buy. So it’s also probably no surprise that we are noticing more recalls for these products too. We may have strict standards but we still leave it up to the manufacturers to do the testing. And as we saw with the lead in kids' jewelry and toys those tests are not always done before products end up in our stores.