Console prices adjusted for inflation

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Ever wondered how much your old consoles would cost if, due to some random delayed technological advancement, they would have been released in today's time?

Here is a list:

 
Glad to see we have experienced 5 years of 0% inflation since the Wii U released, at least it did some good.

I remember plunking down most of my graduation money to buy a Wii. I spent all summer checking my local game shops and electronic stores to see if they had any in stock.

Didn't realize how low the GC was priced at release, now I know why it's the only console my parents ever bought for us as kids.
 
nice image, though I'm confused at the pricing between NES and SNES.
 
What are you guys finding confusing about the prices. They were both $200 at launch.
 
We definitely have experienced some, I figure this image was probably made in 2013 and hasn't been changed since then.
I couldn't find the date when it was produced, but it was recently posted on social media...
 
I couldn't find the date when it was produced, but it was recently posted on social media...
Yeah they pop up everywhere, the origional must have been produced in 2013. So these aren't accurate anymore but still show a rough trend I guess.

Based on my calculations the $400 PS4 would now cost $416.77
The $500 Xbox One would now cost $520.96
And finally, the $300 Wii U would cost $316.44 in up-to-date prices.

I'd readjust the others but don't have that sort of time, unless anyone is particularly interested?
 
I'll just wait for whoever originally created this image to post an updated one.
 
looking at the today's prices, how does a older console become more?
Inflation. Money loses value and prices rise. Meaning if those consoles launched today (providing ceteris paribus - economist slang for everything else stays the same), i.e. technology was at the same level as when those consoles came out), they would be more expensive in terms of money spent due to inflation over the years.
 
Yup, just look at it like this:

In 1950, $10 bought me 20 oranges. In 1980, $10 bought me 10 oranges. In 2017, $10 buys me 5 oranges.

It would cost, in 2017, $20 for 10 oranges and $40 for 20 oranges. Thus, we can conclude that $10 back in 1950 is the same as $40 in 2017 because they would buy the same amount of oranges.
 
I'm sure that cheaper wages from China, Mexico, and other countries with electronic factories also has a lot to do with consoles prices not rising as fast sort of like how you can buy many batteries at a dollar store for $1 because the batteries are made in China and other low wage countries.
 
Inflation. Money loses value and prices rise. Meaning if those consoles launched today (providing ceteris paribus - economist slang for everything else stays the same), i.e. technology was at the same level as when those consoles came out), they would be more expensive in terms of money spent due to inflation over the years.

I think you took my reply out of context. I'm confused why the NES (which surely has less) costs more than the SNES by the numbers of that graph when both started at $200.
 
I think you took my reply out of context. I'm confused why the NES (which surely has less) costs more than the SNES by the numbers of that graph when both started at $200.
This plays in to purchasing power. In 1986, everything was cheaper than in 1991. $200 bought your more things (gas & food) in 1986 than it did in 1991, thus the $200 from 86 is more valuable than the $200 from 91.

The minimum wage in 86 was $3.35, which meant you had to work close to 60 hours to afford a NES. In 91, minimum wage was $4.25, so you only had to work 47 hours to afford a SNES. Now just equate that to today's terms and you see where the difference comes from. 60 hours to buy an NES at today's minimum wage ($7.25) means buying an NES back in 86 would be the same as buying a $435 system today. Likewise, the SNES only took 47 hours to earn back in 91, so you'd multiply that by today's minimum wage and get a system that's worth $340.75. That's why the NES costs more than the SNES when you take inflation into account. Money bought you more things the further you go back in history.
 
I think you took my reply out of context. I'm confused why the NES (which surely has less) costs more than the SNES by the numbers of that graph when both started at $200.
The fact that the NES came out first, meaning that extra years of inflation to the value of money was applied.
 
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