Cost of really living it up.

The 1992 Consumer Price Index declined from the previous year, but the inflation rate for the cost of "really" living was even lower, according to Moot & Chandon Champagne's annual Luxury Index, which has tracked the cost of a dozen luxury goods and services in New York since 1984. The continued low inflation rate is making some of life's luxuries a bit more accessible. "In the world economic environment, sellers of luxury products into the American market want to increase sales. They can do this by maintaining prices. This means that luxury items, like imported chocolate or fine champagne, are becoming increasingly affordable to the American consumer."

Prices for eight of the 12 items tracked showed no increase in 1992, including Dom Perignon Champagne, Hennessy X.O Cognac, and imported truffles. Of those that did go up, the most dramatic rises were in the costs of a Rolle-Royce Comiche IV Convertible (10.7%) and tickets to...