Prices for furniture and accessories are in crisis mode, but the sunny forecast will likely bring them back to life. By The Home Economist

The morning was filled with economic reports that all together serve as excellent excuses – not to mention back up documentation for us to hand potentially angry husbands – to run out and freshen up our homes. (Stop reading right now if you have debt or other unfunded financial goals.)

First, the labor department dazzled us with a report on prices — officially called the Consumer Price Index. Well, my friends, it told a story about a slew of household items that are significantly cheaper than they were last year. Window coverings, for example, have fallen in price by 8.2 percent, lamps and clocks cost 6.7 percent less, while dishes and flatware prices fell by 6.1 percent. Bedroom furniture, meanwhile, costs 4.3 percent less.

Why? Probably because in the midst of an economic crisis, most people were more worried about putting food on the table than they were about setting it with designer dishes and glassware. And similarly, those same people put a priority on paying electric bills over paying for lamps and clocks. With fewer shoppers, stores lowed prices in hopes of moving a few things off the shelves.

But this morning presented fresh evidence to prove these low prices may not last. Over at the commerce department, economists reported that we all collectively spent more in the malls and stores — increasing our retail shopping by 1.6 percent. It may not sound like much, but it’s the biggest hike in four months.

So let’s for one second think like a retailer: if a store suspects we’ll pay more, it will turn around and charge more. And pretty soon, the word “low” gets moved away from prices and placed right before “level of service.”

Source: Bureau of Labor Statistics

The Home Economist does not give personal financial advice!