Now it's a great time to be a consumer

Posted by Giorgio Tomassetti on 19:34 in ,
As you can see from the graph, there has never been a better time to be a consumer in the United States.

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The economic crises has caused massive job losses and hardship for millions, but it has also fostered a shoppers' paradise. Anyone who still has the means to spend can find unheard of deals.
Prices on everything from clothes to coffee to cat food are dropping, some faster than they have in half a century.
Hotel rooms cost travelers nearly 20% less, on average, than last year, the biggest decline since Smith Travel Research began collecting data in 1987. Home prices have dropped 30%, on average, from the peak in 2006. In some markets, they're down more than 50%. Homes in parts of Detroit are cheaper than a new car.

Overall, prices are tumbling at the fastest rate in decades. The government's Consumer Price Index, which measures the average price of goods and services purchased by households, has fallen 1.5% over the last 12 months. The reading for July showed a 2.1% annual decline, the biggest since 1950.

From: ABC News



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