Quote:
Originally Posted by August
No it doesn't. $2.10 in 1977 is the equivalent of $8.02 in 2012 dollars. That's what adjusted for inflation means.
Don't believe me?, punch in the numbers for yourself.
http://www.usinflationcalculator.com/ |
The average home price in 1975 was about $38,000, or $163,000 in today's dollars. The average home price today is just under $190,000.
The average cost for a gallon of gas in 1975 was about $0.63 or $2.71 in today's dollars. The average cost for a gallon of gas today is $4.32.
The average cost for a loaf of bread in 1975 was about $0.25 or $1.07 in today's dollars. Today, a loaf of bread is about $2.00.
So $2.10 in 1975 went farther than $7.25 does today.