Snobflation

Snobbery induced inflation...

Why buy something cheap and convenient when everyone else can too? Better to buy something that shows your buying power! You should always buy the best you can afford because - what would people think?!

Nano cars may be super cheap, but that's like buying obviously cheap clothes, jewelry, watches, etc - people will think you have neither style nor money!

On the grand scale, however, does this attitude actually drive up prices in general? I am sure it has an effect on conspicuous goods, but probably less so on goods that are not revealed as some sort of fiscal fitness indicator. So cars, clothes, jewelry, organic foods, and houses might be subject to competitive snobflation (I'm better than the common rift-raft - I'm with the got-it-together crowd), but behind-the-scenes water, phone, and electric bills might not be driven up by the inflation of keeping up with the Smiths