Apparently the price of men's undies is inelastic.
Fortunately, that hasn't prevented Australian men from keeping their nether regions in tip top snugly form during the sub-prime recession.
The price of men's undies, nightware and socks surged by 3.2% in March. Price growth in this retail subcategory was a buldging 10.2% for the 12 months to March, according to ABS figures.
While most of Kev's stimulus package has been spent on gambling and flat screen televisions, the left-over change may have been spent on new package keepers for the men of Australia. Despite the price hikes, demand for jocks, socks, and whatever it is that men wear at night, keeps on spiking.
During troubled times, it's more important than ever that a man has the support of comfy undies to get him through the day.