The price of a gallon of gas in 1973 was 39 cents. Today it is about $2.35. That's a 500% increase.
The price of a can of Campbell's Chunky Soup in 1973 was also 39 cents. Today it's $1.99, an increase of 410%.
A Big Mac was 65 cents in 1973. Today, the average Big Mac will cost you $3.57 in the United States. That's a 450% increase.
Two pounds of ground coffee was $1.79 in 1973, and today it's around $6.70; that's a 270% increase.
And they wonder why younger working folks can’t buy zip, or are in debt up to their eyeballs.
% increase means little without removing simple inflation.
“Two pounds of ground coffee was $1.79 in 1973, and today it’s around $6.70; that’s a 270% increase.”
Considering inflation alone turns $1.79 then into $10.27 now, we’re actually looking at a _decrease_ in coffee prices of about 35%.
So what if prices went up 10x if income did too? Numbers just adjusted for the fact that the value of a dollar decreased 90% - a story in its own right, but separate from the alleged point of this thread’s lead article.
i just bought a car battery today for $135 i was mentioning to my GF the last time i bought on it was around 60 bucks.
Read beyond the headline, before you criticize. They did more than adjust for inflation, Tom; they adjusted for wages/salaries.