Back Satan...

[Macca]

Martin,

I mentioned the RPI first because that is what most people are familiar with but in truth it is not the best deflator for this purpose. I would argue that purchasing power is a better deflator, which would mean that the record that cost £5 back then would have represented a "sacrifice" of £25 in terms of earnings in today's money.

Hey you are the economist, wo am I to argue? Some things have gone up in price, some things are much cheaper, I thought the point of the RPI was to average that out.? But I suppose you have to take wage inflation into account too, hence spending power being a factor?

Anyway,when I was thinking of selling mine I did some pricing via Discogs and at a very conservative estimate I reckon I could average a tenner an album. That' would net me five grand. I don't reckon I would have any trouble selling them at that estimate, either. So depending on what you have £15 is not unrealistic. However if it's mostly classical you have then forget about it.

[Sherwood]

Hey you are the economist, wo am I to argue? Some things have gone up in price, some things are much cheaper, I thought the point of the RPI was to average that out.? But I suppose you have to take wage inflation into account too, hence spending power being a factor?

Anyway,when I was thinking of selling mine I did some pricing via Discogs and at a very conservative estimate I reckon I could average a tenner an album. That' would net me five grand. I don't reckon I would have any trouble selling them at that estimate, either. So depending on what you have £15 is not unrealistic. However if it's mostly classical you have then forget about it.

The RPI tracks changes in price over time of a representative basket of goods and services deemed to be typical of an average household. Clearly, that basket has changed over time and it is interesting to see what has been included in previous years compared to now. For example, the 1947 rpi included a gramophone record, but also included a galvanized household bucket, sultanas, a women's corset, and a wooden mangle! It is not representative of price changes for many items, but then it was not designed to be. That is why I suggested purchasing power equivalence to be a better deflator.

Perhaps what is more striking is the change in cd prices since the format was launched over 30 years ago. I recall discs sold then for around £15 quid each. Now, most people would baulk at the idea of paying £15 for a new release!

Geoff