As I was cleaning out my papers, I came across some old receipts for various tech gadgets. While I’m used to high-tech stuff getting cheaper and cheaper, I still find it stunning how quickly prices have fallen for certain items:
Item | Purchase date | Purchase price | Current price | Annual depreciation rate | Annual overall inflation rate (CPI) |
1 GB USB flash drive | Dec 16, 2005 | $69.99 | $7.99 | −43.8% | +2.4% |
2 GB SD Flash card | Nov 24, 2006 | $84.98 | $9.99 | −57.6% | +2.4% |
Canon PowerShot 7.1 megapixel camera | Nov 23, 2006 | $361.49 | $179.99 (8.0 MP) |
−24.4% | +2.4% |