Cost of suits rising fast

[CrimsonSox]

The price of suits today is much higher than you'd expect from inflation. Here's an eye-opening Times article from 1987. Oxxford suits back then were only $820, and you'd expect them to sell today for roughly $1650 at the rate of inflation. Paul Stuart's suits were only $430 in 1987, and would cost about $835 if the price rose with inflation. But prices are rising faster: an Oxxford suit starts at nearly $4000 today, and Paul Stuart's most affordable suit is $1284.

By contrast, the price of Paul Stuart's suits rose exactly in line with inflation from 1967 ($125) to 1987 ($430).

If this keeps up, it would be a good excuse for our wives when we stock up on suits: "But honey, it'll cost even more in five years. It's an investment!"


Quote:

Source: http://www.nytimes.com/1987/03/22/magazine/suits-behind-those-high-prices.html?pagewanted=all&src=pm

 

[comrade]

The rate of inflation is basically an average of the cost multiple economic components
which inflate (and deflate) at differing rates. Products and services which benefit from
efficiencies based on technology do not inflate as much as others such as clothing
manufacture.

Actually $ 430 was a decent price for the entry level Paul Stuart Southwick suit in 1987.
The same year I had a a nailhead worsted suit done MTM along with a heavy flannel
blazer at Chipp (Winston Tailors). This storied Ivy Tailor charged around $700
for the suit. I don't recall the blazer price. I still have both but haven't worn them for over 10
years because age and debauchery have increased my size. Neither look like they had been worn
over 15 years. So, in 1987 quality was available for small premium over the usual price.
Today, the premium would doubtless be even higher. On the other hand a computer, or cell phone
( which had just come into popular use) from 1987 would cost more and perform abyssmally,
in comparison.

 

[carpu65]

So why the prices of the suits are more high and the quality is more low than in the past?