Posted on: 26 October 2015 by Ross McSweeny
As part of its 20th birthday celebrations, easyJet has commissioned some research on how much the price of popular products have changed since the airline started in 1995. In 1995, easyJet launched air fares ‘for the price of a pair of jeans’ with starting fares between Luton and Glasgow of £29. Two decades later the starting fare on the same route is £27.49, a reduction of 5.2% despite Air Passenger Duty increasing by more than 160% since 1995. In comparison, the price of the Levis jeans easyJet’s original advert was based on have gone up from £32 to £75 today, an increase of 134%.
“When we began 20 years ago, it typically cost a couple of hundred pounds to fly into Europe. easyJet’s model of keeping costs low, to keep fares low and then only asking passengers to pay for the services they use, was revolutionary back in 1995,” noted Peter Duffy, easyJet’s commercial director. “It is fantastic that 20 years on we are still true to our roots and today’s Scottish starting fares now cost less than our original launch fare in ‘95 – just one of the many reasons why 68 million Europeans chose to fly with us in the past year.”
easyJet also reported that the official UK inflation rate has gone up 78% since November 1995, but that property has risen far beyond this figure. In 1995, the average UK house sold for £68,183. Today it is £295,000, a rise of a 332%. Football fans are also suffering. In 1995 a ticket to Arsenal, then playing at Highbury, cost just £12.50. Today a similar seat at the Emirates costs 265% more at £45.69.
However, there is some good news for consumers, with both tea bags and milk having seen their prices held back by the growth of budget supermarkets and loss leader promotions. Finally, Other items that have dropped in price include games consoles, books and car tax for low emissions cars.