Posted On: Tuesday - May 9th 2023 6:22PM MST
In Topics:   Music  Inflation  Taxes
(Perfectly inflated jeans here. Yeah, we need to bring in some readers ...)
Peak Stupidity has got 2 solid accurate price points for Levy's 505 blue jeans. This is really close to an apples-to-apples comparison with the exception of the question of quality. I know the quality hasn't improved, and from holes in the knees of my blues*, I would say they are of lower quality.
Changes in quality of products and services were discussed in the older inflation posts, such as the one paragraph in the post Tire Inflation by Deflation. Were these changes known well, as far as good useful life numbers, then they could be numerically taken into account, getting us accurate results on average inflation rates. I could have been logging "days worn", but unfortunately I don't have that regarding my blue jeans because I'm not that much of an obsessive economic geek .
Anyway, same size, same style (505) and even same color. The reason I know the price in '05 is due to a nice memory, and the expense is right with me in my records. I'd made a trip to a nearby State, one without sales tax, to buy 6 pairs of jeans. Wait, OK, there was a girl involved who I wanted to ride there with - the trip being paid for, as it was part of the work. (Buying blue jeans not subject to sales tax was the excuse.) Nothing came of it besides a nice hike... oh, and yeah, 6 pairs of jeans, long since ripped and retired, but logged at $162 even. That's $27/pair,on sale, as I recall, and remember, there's no tax to take into account.
My wife helped me shop for more recently. We looked around a while.
I rounded down to the even year - '05 to '23 is 18 years. MoneyChimp says, with compounding, that's just under a 3.5% average inflation rate. Whaddya' know? This is a little lower than the 4-5% I seem to get on long-term calculations.
Due to the first lyric line written by Bernie Taupin, you may already have this song in your head. From 52 years back and the album Madman Across the Water, this is Elton John's Tiny Dancer:
This song was written well before the gayness of the artist was announced. ~ 6-7 years afterward, he "came out", but that wasn't pushed on the audience as it was in the recent movie Rocket Man. TMI, dudes!
* Mr. Ganderson, you've got 5 seconds: Name that Dead song.
** I wrote "non-stretch ones" for a reason. I found them for $50 on-line. That's quite the price difference (when you buy in quantity), but I simply don't want anything different. More relative to the inflation picture is that I looked up info. on these, and they are not as durable as the normal stuff due to the elastic material wearing out faster than the denim. That's per this info.