I got an e-mail this week from the owner of Connolly's Irish Pub in Cary.
They wanted to tell me they've introduced a new menu and LOWERED prices.
Now there's a trend I wish would catch on.
Connolly's will celebrate its 10th anniversary on Oct. 17. Here's the Web site.
Re: Let's hear it for falling prices...
Better to be worried if you see a lot of this. Falling prices are a sign that things are pretty bad, and can cause real problems by building expectations among consumers to delay purchases for better deals later. Perhaps the restaurant you mention is just taking less profit to adjust to the wallets of local consumers, or it's food/beverage prices have fallen and it's passing on the savings, or some of both. Terms to read up on include "deflation" and "liquidity trap." The American economy has been caught in a liquidity trap for over a year now and it's not pretty.