It’s pricey out there—particularly if you’re looking to replace the grand piano in your jet. Our Cost of Living Extremely Well Index (CLEWI) climbed 3.4% this past year, more than a point above its 2018 increase. It rose nearly twice as much as the Consumer Price Index, which was up 1.7%. Since we started tracking this basket of luxe goods and services in 1982, though, it has gone up every year, by an average of 5%. Historically speaking, then, this year’s increase doesn’t look so bad after all—and the average net worth of Forbes 400 members has shot up 3,112% since the early Reagan years. They can afford the Steinway.
More here – Forbes
PS: LB and I were just discussing yesterday how the cost fo the chocolate frogs we buy from the Chocolate Box has risen out of all proportion in the past two decades….
Yes but what about the raspberries, bullets, jelly beans, liquorice, mint leaves, clinkers, fruit pastilles and, of course, the Jaffas? Can’t do without my Jaffas. Oh, the sound as they roll across the kitchen floor. And also so rich and resonant with warm and exciting memories at the Saturday afternoon flicks. So I think an averaged cost analysis would be more instructive Chris. And how does one put a value on all those memories? I think your methodology could be fundamentally flawed.
Lol. I think I recall buying 5 mint leaves or 5 mates or 5 fizzos for 1 cent at the local milk bar….
Gotta love the day when a cent could buy you the very thing you wanted most in the world. They don’t even cents anymore. 🙁
chocolate frogs?
I thought you used Tim Tams and a 4 year old to define trend