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This can be due to cheaper production costs overseas or because territorial rights were sold.
All have been closed down due to cheaper and faster rail travel.
The amount spent on a typical Christmas dinner fell even faster – down by 2.2% – mainly due to cheaper poultry and traditional vegetable trimmings".
But a one-off drop in prices due to cheaper imports from Asia, lower oil prices or deregulation in telecommunications is not the same as "deflation".
With hindsight, some of the deflation that the Fed was fretting about in 2003 was in fact benign deflation due to cheaper goods from China and the IT revolution.
However, demand for hand-crafted joss sticks has been declining due to cheaper rival products and changing tastes.
Similar(47)
"In theory, companies derive benefits from lower costs due to cheap power and lower regulatory burden.
Much of this growth, however, was due to cheap financing schemes for cars; excluding automobiles, retail sales were weak.
The once thriving pub industry has been brought to its knees due to cheap beer and lager on sale in supermarkets, leading to mass closures.
He has had to – these traditional skills have faded away in Britain over the past 40 years due to cheap competition from China and Taiwan, where most bicycles are manufactured.
He said: "The plummeting ticket prices are largely due to cheap oil, increased competition, and a race among the major airlines to provide, cheap, bare-bones ticket options".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com