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The Truth About Inflation: Recovery or Hyperinflation?
We all know that inflation is taking its toll on this country in many ways. That’s very evident in gas prices. Inflation tends to affect other areas as well. Right now, economists are seeing that in TV sales.
Stephen Baker, vice president of Industry Analysis at NPD Group said: “Pricing right now on TVs is the highest since at least 2012. Holiday pricing overall is likely to be at least $100 above normal. Last year the average price of a TV was $363 during the fourth quarter, which is fairly typical over the last few years. This year our forecast is for the average price to be approximately $500.”
This is due to a rising cost of individual parts they use to build the TVs. Baker continued: “Sales of TVs over $1,500 are at record levels, and sales of TVs 75-inch and above are performing much better than the overall market.”
This is confusing for some, since TVs don’t rank all that high on the list of things that are “inflated.” The reason being is that there are lower cost TVs that drag down the average price. That still doesn’t change the fact that these numbers are the highest they’ve been in 9 years.
The prices are expected to continue rising as well… Well, at least some people think so.