Happy Friday! Today we're debuting one of our new recurring features, Off The Charts — look out further down the newsletter for one of our previous charts with some information redacted! Of course, we’ve still got fully-formed charts for you too. Today we’re exploring:
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Déjà vu
We wish we didn’t have a calendar invite for our team to check the latest inflation data, but that, sadly, is just where we're at in 2022.
The latest Consumer Price Index figures out yesterday revealed another month of rampant inflation, even with gas prices moderating slightly. The number worrying economists most was core CPI, which strips out food and energy costs. For the month of September that particular index climbed by +0.6%, with a year-on-year rise of 6.6%, the fastest rate of increase since 1982.
Taking stock
We’ve charted the CPI across 9 categories (including overall inflation) plotting how prices have changed from Jan 2020 to today. Over that time frame, most things you buy on a regular basis are probably up 15% at least. Indeed, there isn't a lot of good news in these charts — unless you are quite specifically a vegan fashionista who likes a drink and doesn't drive. In that case your personal inflation rate probably isn't too bad.
Film fans
In the last 18 months camera giant Kodak has hired 300 people across their film and chemicals floor. Remarkably, however, that’s not been enough — the company is continuing its film tech hiring spree to meet the demands of a resurgent 35mm market. Analog photography is making a major comeback, much like vinyl has been in the music industry, with some popular SLR film cameras seeing prices rocket up 80% in recent years.
Digital decline
Film cameras may be making a comeback but, with smartphone cameras’ megapixel counts growing ever-dizzier, the humble hero of your 2010 family vacation — the digital camera — isn’t showing any signs of life.
The rise of digital cameras was quick, as consumers turned to DSLRs and point-and-shoots to capture memory-card-ready moments. The decline, however, has been even sharper. Since the peak in 2010 — when 121 million units were shipped globally — things have been downhill for digital cameras, with shipments declining nearly every year since. The past 2 years have been particularly rough, with digital camera shipments now down some 93% from the ‘10 peak.
Retro revival
The formula for a nostalgic physical format revival is beginning to appear. If the process is slightly cumbersome, way more work and something your parents or (ideally) grandparents did, it has a chance of making a comeback. Meanwhile digital cameras join CDs, DVDs, and MP3s in the ‘tiringly practical and boringly modern’ 21st-century tech trash can.
With geopolitical turmoil, soaring inflation and sinking stock markets, you might not imagine the current economic landscape would make the best backdrop for luxury goods spending sprees. LVMH’s latest results, however, strongly suggest otherwise.
Moët Hennessy Louis Vuitton (LVMH) reported on Tuesday that its sales had jumped 28% in the first 9 months of 2022, a remarkable growth rate on a year (2021) that was already the company’s best ever. Sales in their Fashion and Leather Goods division jumped a particularly impressive 31%.
If you think of a random high-end luxury product, there’s a reasonable chance it is owned by LVMH. The company’s 75 brands, which LVMH calls "houses", include Louis Vuitton, Christian Dior, Tag Heuer, Loro Piana, Bulgari, Hublot and — the most recent addition — Tiffany & Co..
Wolf in cashmere
Founded in 1987 following the merger of Louis Vuitton and Moët et Chandon and Hennessy, LVMH’s CEO Bernard Arnault has been a prolific dealmaker in the luxury space, with, ironically, an eye for a bargain. The company’s ~$16bn acquisition of Tiffany & Co. last year, roughly doubled the size of their Watches & Jewelry division, in a classic run of the company’s buy-scale-diversify playbook.
However, Arnault, who has been dubbed the "wolf in cashmere", isn't resting on his laurels. LVMH has recently acquired a minority stake in Queens based brand Aimé Leon Dore and has even been rumored as a potential buyer of Ralph Lauren — more deals to pop their own champagne to.
• This metaverse is valued at $1.2bn… but it only has 38 active users.
• Marmalade sales in the UK surged by 18% following the Queen’s passing last month, as Brits paid their respects to Her Majesty and her favorite preserve.
• Netflix has finally revealed the details of its cheaper ad-supported tier. The company's "basic with ads" tier will cost $6.99 and run ads that are 15 or 30 seconds long before and during the content. It rolls out Nov 3rd in the US.
• A visual exploration of hurricane data analysis from inside the eye of the storm.
• The Mexican state drinking more coke than anyone else.
• Check out the best of the Wildlife Photographer of the Year competition.
• Only watch the cream of the crop? Interesting chart showing the best streaming platforms for Best Picture winners.
Off the charts: Which app, that crossed 50m+ total downloads this week, were we charting about back in April? Link to answer below.
Answer here.
