One of Sydney's most iconic businesses has gone viral after rolling back its prices to nearly a quarter of a century ago in a cheeky sales campaign targeting inflation. The promotion has led to extraordinary queues outside Gelato Messina stores and has even attracted the attention of economists.
Throwback Pricing Creates Frenzy
Each Monday in May, the gelato giant has been winding back the clock, offering prices from 2002. A worker noted, 'It kind of got crazier and crazier.' The campaign has seen customers lining up for blocks, eager to snag a bargain.
Economist Chris Richardson commented, 'The bigger the bargain, the bigger the queue, but even more true today with a lot of families under a lot of budget pressure.' One customer remarked, 'Wish I lived in 2002.'
Inflation's Impact on Prices
A look back at 2002 prices reveals just how much inflation has affected everyday costs. A litre of milk was $1.25, a loaf of bread $2.20, a dozen eggs $3.50, and a brand-new car could be had for $10,000. Over the past 22 years, Australians have seen a 78 per cent increase in overall prices.
Richardson noted, 'It was $1 in 2002. It's about $1.80 today.' While some items have risen modestly, others have skyrocketed. For example, terraces in the Sydney suburb of Paddington were worth $730,000 in 2002 and now sell for more than three times that amount.
Campaign Continues
The Gelato Messina campaign will continue for one more week before prices return to normal. The promotion has sparked widespread discussion about the rising cost of living and the nostalgia for more affordable times.
