Marketplace Morning Report for Friday, September 12, 2014
Later today we'll know more about ways the U.S. and Europe will apply new sanctions against Russia for supporting separatists in and around Ukraine. Financial, energy and defense are expected to get targeted. And Russian officials are working on some interesting sanctions of their own. As part of Marketplace's 25th birthday, we look at the surprising, sometimes delightful and sometimes destructive ways that prices have changed during the last quarter century. Saul Zabar, of the famed Upper West Side establishment Zabar's, couldn't remember what he was charging for smoked salmon 25 years ago. But a magazine from 1989 lists a Zabar's sale price: $15.95 a pound, Scotch salmon, pre-sliced. But as we'll be reminding ourselves during this series, ya gotta adjust for inflation. $15.95 is more than 30 dollars a pound in today's money. Today, routinely, with no special sale, Saul charges under 24 dollars a pound. In real terms, that's a 22 percent decline in 25 years. Now we shouldn't forget that farming salmon can have environmental costs. And there are two parts to the price equation, not just supply but also demand. We take a closer look at the raw material that goes into smoked salmon.
Later today we’ll know more about ways the U.S. and Europe will apply new sanctions against Russia for supporting separatists in and around Ukraine. Financial, energy and defense are expected to get targeted. And Russian officials are working on some interesting sanctions of their own. As part of Marketplace’s 25th birthday, we look at the surprising, sometimes delightful and sometimes destructive ways that prices have changed during the last quarter century. Saul Zabar, of the famed Upper West Side establishment Zabar’s, couldn’t remember what he was charging for smoked salmon 25 years ago. But a magazine from 1989 lists a Zabar’s sale price: $15.95 a pound, Scotch salmon, pre-sliced. But as we’ll be reminding ourselves during this series, ya gotta adjust for inflation. $15.95 is more than 30 dollars a pound in today’s money. Today, routinely, with no special sale, Saul charges under 24 dollars a pound. In real terms, that’s a 22 percent decline in 25 years. Now we shouldn’t forget that farming salmon can have environmental costs. And there are two parts to the price equation, not just supply but also demand. We take a closer look at the raw material that goes into smoked salmon.
