Inflation bites harder on super-rich

September 21, 2007 in Inflation 

The recent Forbes list has some of the most expensive items, whose prices have increased from last year by an average 6%, more than double the CPI (standard measure of inflation). A few of the biggest rises are:

  1. Ridgewells Diner (Bethesda, MD) serving 40 people: Now costs $9795 – up 31% from last year.
  2. Lenox, Williamsburg Shell pattern silverware, 4-piece place setting for 12: Now costs $6960 – up 28% from last year.
  3. Natural Russian sable coat, Maximilian at Bloomingdale’s: Now costs $225,000 – up 18% from last year.
  4. Nautor’s Swan 70 sailing yacht: Now costs $4,771,550 – up 17% from last year.
  5. American Academy of Facial Plastic and Reconstructive Surgery: Now costs $17,000 – up 17% from last year.
  6. Men’s black calf wingtip shoes, custom-mad, John Lobb, London: Now costs $4566 – up 11% from last year.

Not that I am worried about such a list (hey, if I want a boat ride, I’ll get myself a $20 ticket to one of those “sea screamers” down in Florida, rather than pay $4,771,550 for a yacht).

Do you think the ultra-rich will zip up their money-belt now? Hardly so – their earning grows at way more than 6%, whereas our salary barely keeps up with inflation.

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