{"id":875,"date":"2021-08-12T22:37:03","date_gmt":"2021-08-13T02:37:03","guid":{"rendered":"http:\/\/blogs.bu.edu\/zagorsky\/?page_id=875"},"modified":"2021-08-12T22:37:03","modified_gmt":"2021-08-13T02:37:03","slug":"the-prom-and-the-wall-street-journal-april-20-2018","status":"publish","type":"page","link":"https:\/\/blogs.bu.edu\/zagorsky\/posts-written-at-ohio-state-univ\/blog-posts-written-at-ohio-state-univ\/the-prom-and-the-wall-street-journal-april-20-2018\/","title":{"rendered":"The Prom and the Wall Street Journal (April 20, 2018)"},"content":{"rendered":"<p>Today\u2019s Wall Street Journal has an article discussing my Prom Price Index (article is <a href=\"https:\/\/www.wsj.com\/articles\/the-prom-is-becoming-a-cheap-er-date-1524229200\">here<\/a>).\u00a0 For those of you who are new readers, I have been creating an index that tracks the change in the price of going to the Prom since 2014.\u00a0 The updated 2018 index is found on this blog under the \u201cData Files\u201d heading or by clicking <a href=\"https:\/\/u.osu.edu\/zagorsky.1\/files\/2018\/04\/PromPriceIndex_2018-26inows.xlsx\">here<\/a>.<span id=\"more-934\"><\/span><\/p>\n<p>What happened to prom prices in the last year?\u00a0 Shockingly, they exceeded inflation.\u00a0 Overall consumer prices rose last year by about 2%.\u00a0 The Prom Price Index, however, went up by about 4%.<\/p>\n<p>The main reason is women\u2019s dresses soared in price.\u00a0 In the last year dress prices tracked by the Consumer Price Index jumped almost 12%.\u00a0 My guess is this is a one time aberration.\u00a0 It might even be a data mistake since most of the jump happened between February and March of 2018.\u00a0 Dresses are relatively easy to manufacture and price increases of 12% are just not sustainable with today\u2019s global fashion supply chains.<\/p>\n<p>Outside of dress prices the rest of the index again went up at a slower rate than overall inflation.\u00a0 Eliminating dresses from the index would have resulted in the prom price index rising just 1% since 2017, which is about half the 2% rise in overall inflation.<\/p>\n<p>For those of you going to the prom, enjoy!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today\u2019s Wall Street Journal has an article discussing my Prom Price Index (article is here).\u00a0 For those of you who are new readers, I have been creating an index that tracks the change in the price of going to the Prom since 2014.\u00a0 The updated 2018 index is found on this blog under the \u201cData &hellip; <a href=\"https:\/\/blogs.bu.edu\/zagorsky\/posts-written-at-ohio-state-univ\/blog-posts-written-at-ohio-state-univ\/the-prom-and-the-wall-street-journal-april-20-2018\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">The Prom and the Wall Street Journal (April 20, 2018)<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":5335,"featured_media":0,"parent":785,"menu_order":7,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/pages\/875"}],"collection":[{"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/users\/5335"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/comments?post=875"}],"version-history":[{"count":1,"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/pages\/875\/revisions"}],"predecessor-version":[{"id":876,"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/pages\/875\/revisions\/876"}],"up":[{"embeddable":true,"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/pages\/785"}],"wp:attachment":[{"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/media?parent=875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}