Many Consumer Prices Have Fallen, Not Risen, in the Last Year

by: Mark J. Perry

Click to enlarge

Interesting graphic above from yesterday's NYTimes, showing the percentage breakdown of consumer spending in 2008 (15% on food and beverages [vs. 46.4% in 1901!], 18% on transportation, 42% on housing, etc.), and the percentage change in the components of the CPI over the last year from March 2007 to March 2008.

Notice all of the components above in blue, showing the more than 30 goods that have FALLEN in price over the last year (the NYTimes graph is interactive - move your cursor around to see specific items and price changes), including even many food items, such as:

Citrus fruits: -9.5%

Lettuce: -3.2%

Pork chops: -1.3%

Ham: -1.3%

Sugar: -1.7%

Bedroom furniture: -2.3%

New cars: -1.1%

TVs: -18.3%

Clocks, lamps, decorations: -7.5%

Computers: -12%

Women's suits: -6%

Men's shirts: -3.4%

Girl's clothes: -9.4%

Watches: -2.3%

Software: -5.3%

Toys: -5.2%

Phones: -5.3%

Outdoor equipment: -2.5%

Cameras, film: -6.1%