- White bread (1 pound): $1.41 ($1.58 in todays dollars) When the U.S. foreclosure rate jumped 79%, the housing market crashed, causing home prices to decrease dramatically. - Sliced bacon (1 pound): $0.79 ($7.70 in todays dollars) - Fresh eggs (1 dozen): $1.22 ($1.63 in todays dollars) - Fresh grocery milk (1 gallon): $3.08 ($3.98 in todays dollars). At the beginning of 1966, America was heading into its sixth year of economic expansion, with a 4% unemployment rate and capacity utilization at close to 90%. - Potatoes (10 pounds): $0.55 ($6.01 in todays dollars) - White bread (1 pound): $0.08 ($1.37 in todays dollars) - Potatoes (1 pound): $0.77 ($0.78 in todays dollars) - White bread (1 pound): $0.09 ($1.30 in todays dollars) - Fresh grocery milk (1/2 gallon): $0.78 ($4.12 in todays dollars)*. To that end, most Stacker stories are freely available to - Potatoes (1 pound): $0.37 ($0.65 in todays dollars) - Fresh eggs (1 dozen): $0.54 ($4.65 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.25 ($4.52 in todays dollars). Public policies assisted returning veterans in securing jobs, purchasing homes and starting families; however, many minorities still faced challenges in partaking in these opportunities. - Potatoes (1 pound): $0.65 ($0.71 in todays dollars) Meanwhile, overseas, Adolf Hitler had invaded Poland, marking the start of World War II. - White bread (1 pound): $0.28 ($1.64 in todays dollars) - Sliced bacon (1 pound): $2.08 ($4.94 in todays dollars) Americans were on the move and car sales were there to prove it. To publish, simply grab the HTML code or text to the left and paste into - Potatoes (10 pounds): $0.68 ($4.37 in todays dollars) - Round steak (1 pound): $1.06 ($9.02 in todays dollars) Expenditures on other areas, such as food, entertainment and education, also rose slightly. - White bread (1 pound): $0.19 ($1.71 in todays dollars) The price of goods also increased 1.5%. - Fresh eggs (1 dozen): $0.55 ($4.68 in todays dollars) Some shops priced more expensive items in guineas. - Fresh grocery milk (1 gallon): $3.28. The economy grew at a rate of 3.8% and the unemployment rate fell to 7.7%. The American economy was slowly getting back on track, though consumers and businesses remained cautious as the prior recession lingered in their minds. - Round steak (1 pound): $2.91 ($7.29 in todays dollars) In 2014, the typical American household spent $36,800, however the amount of money they were bringing in stayed relatively the same. - Fresh grocery milk (1 gallon): $3.50 ($4.39 in todays dollars). - Sliced bacon (1 pound): $1.32 ($6.97 in todays dollars) - Round steak (1 pound): $4.14 ($5.02 in todays dollars) - Potatoes (1 pound): $0.63 ($0.76 in todays dollars) - Fresh eggs (1 dozen): $0.29 ($5.81 in todays dollars) - Sliced bacon (1 pound): $4.11 ($4.91 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.51 ($4.59 in todays dollars). With the implementation of the Canada-U.S. Free Trade Agreement, trade increased between the two countries at a rapid clip. - White bread (1 pound): $1.00 ($1.41 in todays dollars) - Sliced bacon (1 pound): $0.41 ($5.93 in todays dollars) - Potatoes (1 pound): $0.36 ($0.58 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.25 ($4.61 in todays dollars). - Round steak (1 pound): $0.44 ($7.03 in todays dollars) The median income for families was $4,200 in 1954, about the same as it was the previous year. - Fresh eggs (1 dozen): $0.79 ($1.74 in todays dollars) - Fresh eggs (1 dozen): $0.36 ($6.51 in todays dollars) - Sliced bacon (1 pound): $0.66 ($6.41 in todays dollars) - Round steak (1 pound): $0.28 ($5.44 in todays dollars) While the average median income of families rose 6%, an 11% rise in prices meant they had less purchasing power than in years past. President Kennedy continued to lobby for personal and corporate tax cuts that would invigorate the economy, making economic growth his top priority. - Round steak (1 pound): $4.11 ($5.16 in todays dollars) The economy had recovered from the recession and Americans entered into a new era of economic growth. - Fresh delivered milk (1/2 gallon): $0.57 ($4.44 in todays dollars). questions are about? They were also heading to the stores, with strong retail sales reported throughout the year. - White bread (1 pound): $0.51 ($1.61 in todays dollars) - Fresh eggs (1 dozen): $1.11 ($1.84 in todays dollars) - Fresh eggs (1 dozen): $0.90 ($2.58 in todays dollars) Economists were predicting a year of growth and no recession as the value of the dollar rose. Compares pre- and post-WWI wages, union rates, farm wage rates, hours of work, and average weekly earnings by industry. Retail sales also weakened, as consumers were confronted with rising payments on record debt accumulated over the past several years. - Fresh grocery milk (1/2 gallon): $1.05 ($3.32 in todays dollars). - Sliced bacon (1 pound): $5.61 ($5.71 in todays dollars) No longer in a recession and boosted by tax cuts, inflation decreased significantly, coming down to 5.75%. - Sliced bacon (1 pound): $1.33 ($7.80 in todays dollars) - Round steak (1 pound): $0.76 ($8.87 in todays dollars) - Potatoes (10 pounds): $0.34 ($5.43 in todays dollars) - Fresh eggs (1 dozen): $0.70 ($6.82 in todays dollars) - Fresh eggs (1 dozen): $0.32 ($5.99 in todays dollars) The recession ended in June, thanks in part to a $700 billion bailout of the financial industry and insurance and automobile companies as well as the passage of the American Recovery and Reinvestment Act, a nearly $800 billion government stimulus package. WebPrices, price indexes and cost of living in Australia Victorian year-book - from 1873 they are available online Conversions 1 lb = 0.45 kg 1 quart = 946mL 12 pence (d) = 1 shilling (s) 20 shillings = 1 pound () 1 pound () = $A2.00 Conversion of s.d. - Potatoes (10 pounds): $0.76 ($5.68 in todays dollars) - Potatoes (1 pound): $0.25 ($0.59 in todays dollars) WebWhat Things Cost in 1941: Car: $925 Gasoline: .19 cents/gal House: $6,900 Bread: .08 cents/loaf Milk: .34 cents/gal Postage Stamp: .03 cents Stock Market: Dow Jones Index - White bread (1 pound): $0.21 ($1.74 in todays dollars) Wages and salaries went up only slightly, with the minimum wage remaining at $5.15 per hour. President Hoovers attempts to help the millions in need came a little too late however, as he lost to Democratic challenger Franklin Delano Roosevelt in the November elections. You may also like: Best value colleges in every state, - Fresh eggs (1 dozen): $1.01 ($2.01 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.47 ($4.58 in todays dollars). The stock market was depressed and interest rates rose. For example, the average cost of a house in Wales in 1917 With the economy strengthening, Congress looked to address the record-high deficit without increasing taxes and passed the Balanced Budget and Emergency Deficit Control Acta five-year plan to reduce the deficitin December. Millions of Americans received a stimulus check in the summer, ranging from $300 to $600, with the federal government hoping the money would be spent to stimulate an economy undergoing a mild recession brought on by the dot-com bubble burst. Mainly for this reason, estimates of total dead in World War II vary anywhere from 35,000,000 to 60,000,000a statistical difference of no small import. - Potatoes (1 pound): $0.21 ($0.51 in todays dollars) 1930. With 10 million Americans unemployed, a record $290 billion deficit and sluggish job creation, voters were looking for a president who could revive the economy. - Sliced bacon (1 pound): $3.44 ($4.44 in todays dollars) - White bread (1 pound): $0.09 ($1.44 in todays dollars) The average family income rose 6% to $5,400. Wars, extreme weather, political unrest, and more, have all affected the cost of goods and how Americans have spent their money. Minimum wage also increased this year to $1.40 per hour. Inflation also increased and the country entered a mild recession in December. Despite gains in spending and output, the job market remained weak, with sluggish job creation and hiring. - Round steak (1 pound): $2.90 ($7.58 in todays dollars) Price and wage controls enacted by the government had been successful and inflation had gone down to 3.27%. - Sliced bacon (1 pound): $0.82 ($7.93 in todays dollars) In an effort to combat rising inflation and create jobs, President Richard Nixon signed an executive order in August, authorizing temporary wage and price controls. - White bread (1 pound): $0.71 ($1.36 in todays dollars) The legal basis for price control, 543. A dozen eggs - White bread (1 pound): $0.35 ($1.85 in todays dollars) Named after its creator, Secretary of State George C. Marshall, the Marshall Plan proposed offering European nations more than $15 billion in aid to rebuild after the war. - White bread (1 pound): $0.14 ($1.51 in todays dollars) - Fresh eggs (1 dozen): $0.52 ($3.24 in todays dollars) research shows that in the UK we actually spend less on food than previous generations did, and many popular foods are cheaper now than they were 30 years ago . - Sliced bacon (1 pound): $5.77 ($6.13 in todays dollars) - Round steak (1 pound): $2.82 ($6.82 in todays dollars) - Round steak (1 pound): $0.92 ($8.97 in todays dollars) Consumer confidence was also at a high, with 80% of people not worried about losing their jobs and incomes rising among families in every wage bracket. Recession recovery continued, with the rate of layoffs decreasing. The country fell into another recession, as GDP decreased by 3.7% and unemployment rose to 7.4%. And families were continuing to see more money coming in, with the average median family income at $6,900. You may also like: Most common jobs in America 100 years ago, - Fresh eggs (1 dozen): $0.58 ($8.39 in todays dollars) - White bread (1 pound): $0.08 ($1.50 in todays dollars) - White bread (1 pound): $1.37 ($1.64 in todays dollars) - Round steak (1 pound): $0.85 ($9.30 in todays dollars) - Potatoes (1 pound): $0.83 - White bread (1 pound): $0.07 ($1.33 in todays dollars) - White bread (1 pound): $1.44 ($1.58 in todays dollars) - Round steak (1 pound): $0.41 ($6.06 in todays dollars) - Round steak (1 pound): $0.30 ($5.70 in todays dollars) - Sliced bacon (1 pound): $1.71 ($7.82 in todays dollars) - Fresh grocery milk (1/2 gallon): $1.13 ($2.83 in todays dollars). Federal aid finally came through with the formation of the Reconstruction Finance Corporation, which offered financial assistance to railroads, banks, and business corporations, later expanding to include agriculture, and state and local public works. - Potatoes (10 pounds): $0.23 ($4.47 in todays dollars) - White bread (1 pound): $0.54 ($1.41 in todays dollars) Can you guess the company these real 'Jeopardy!' - White bread (1 pound): $0.93 ($1.41 in todays dollars) - Sliced bacon (1 pound): $0.67 ($7.33 in todays dollars) Contains a supplement for 1941. - Round steak (1 pound): $4.28 ($5.11 in todays dollars) 25 July 2005. - Round steak (1 pound): $0.88 ($8.42 in todays dollars) - Fresh grocery milk (1/2 gallon): $1.56 ($2.59 in todays dollars). - Potatoes (1 pound): $0.38 ($0.61 in todays dollars) - Round steak (1 pound): $1.06 ($9.32 in todays dollars) - Fresh eggs (1 dozen): $0.99 ($1.89 in todays dollars) - Potatoes (1 pound): $0.24 ($0.60 in todays dollars) Unemployment continued to trend downward, declining from 2.3 million in 2015 to 2 million in 2016. - White bread (1 pound): $0.55 ($1.26 in todays dollars) - Potatoes (10 pounds): $0.76 ($6.38 in todays dollars) WebBlack barbers earned a median $1,678 in 1949 White men earned $2,678 Non-white men earned $1,715 White women earned $1,710 Non-white women earned $928 Income BY - White bread (1 pound): $0.35 ($1.60 in todays dollars) - Fresh eggs (1 dozen): $1.99 ($2.41 in todays dollars) The newly inaugurated President Jimmy Carter made job creation a main priority and Congress passed the Economic Stimulus Appropriations Act. - White bread (1 pound): $0.13 ($1.52 in todays dollars) And while the economy was booming, the world turned upside down when President Kennedy was assassinated in November, leaving Vice President Lyndon B. Johnson to take over. Individuals saw their income taxes increase by 10%. - Fresh delivered milk (1/2 gallon): $0.24 ($4.49 in todays dollars). Adding to the instability was the revelation by the federal government of a widening trade deficit, leading to the dollar falling in value. After the economic uncertainty of 1971, consumers were more confident in the economy, an attitude that was reflected in their growing spending as well as a record expansion of consumer credit. Minimum wage also increased by 10 cents to $1.25 per hour. - Potatoes (10 pounds): $0.21 ($3.88 in todays dollars) The legislation would go on to create 9.3 million jobs. Consumer spending made up 70.5% of the total GDP. - Sliced bacon (1 pound): $1.88 ($4.14 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.27 ($4.78 in todays dollars). The household median income rose 3.5%, coming to $38,885. - Potatoes (10 pounds): $0.23 ($4.60 in todays dollars) WebWhat it cost - 1940 Rowntree's Cocoa, 6d (2p) per lb. - White bread (1 pound): $0.88 ($1.46 in todays dollars) The countries traded skis, whiskey, fur and computers, among other goods. I went to the spare room and checked my copy of Radio Times for September 1946 (every home should have one!) - Potatoes (10 pounds): $0.46 ($4.97 in todays dollars) The economy grew at a rate of over 5%. 5 In 1940, sugar cost an average of $0.052 per For 1944 and 1945, income amounts above $200,000 about $3.3 million in today's dollars were taxed at an astounding marginal tax rate of 94%! - Round steak (1 pound): $1.11 ($8.92 in todays dollars) - Potatoes (10 pounds): $0.63 ($5.48 in todays dollars) - White bread (1 pound): $1.44 ($1.67 in todays dollars) However, unemployment crept up to 5.8%. Consumer confidence dropped even further as the threat of a gasoline shortage loomed and long lines at gas stations appeared. Some shops priced more expensive items in guineas. - Potatoes (1 pound): $0.46 ($0.65 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.52 ($4.42 in todays dollars). - Potatoes (1 pound): $0.26 ($0.57 in todays dollars) - Fresh eggs (1 dozen): $0.60 ($4.82 in todays dollars) In an attempt to restart economic growth and encourage consumer spending, the Federal Reserve eased monetary policies. - Sliced bacon (1 pound): $1.67 ($4.78 in todays dollars) - Fresh grocery milk (1/2 gallon): $1.43 ($2.44 in todays dollars). With more money in hand thanks to the President George W. Bushs tax cut package, consumers began spending, helping to recharge the economy. - Fresh grocery milk (1/2 gallon): $1.13 ($2.73 in todays dollars). With more women in the workplace came a demand for a recognition of rights, with the National Organization of Women calling for an executive order to ban discrimination in federal employment. - Fresh eggs (1 dozen): $1.68 ($2.11 in todays dollars) - Fresh eggs (1 dozen): $0.55 ($8.13 in todays dollars) to dollars and cents (from Decimal currency, 1965, ABS) Pence Whole cents 1 1 2 2 3 2 4 3 5 4 - Sliced bacon (1 pound): $3.61 ($4.38 in todays dollars) - Round steak (1 pound): $0.52 ($6.94 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.42 ($4.59 in todays dollars). - Fresh eggs (1 dozen): $0.78 ($4.12 in todays dollars) - Potatoes (10 pounds): $0.24 ($4.25 in todays dollars) The cost of goods has risen by almost 9,000 per cent in the past hundred years thanks to inflation, new research reveals. - Sliced bacon (1 pound): $0.41 ($7.68 in todays dollars) - Fresh eggs (1 dozen): $1.47 ($1.56 in todays dollars) You may also like: Iconic images from economic recessions in U.S. history, - Fresh eggs (1 dozen): $0.61 ($4.09 in todays dollars) - Fresh grocery milk (1/2 gallon): $0.83 ($3.80 in todays dollars). Hurting the American economy even further was a banking panica loss of confidence in the security of banks, resulting in people withdrawing their money in large numbers. - Sliced bacon (1 pound): $0.39 ($6.23 in todays dollars) And in those homes, they put televisions4.4 million Americans had a TV in their home by 1950. - White bread (1 pound): $0.22 ($1.77 in todays dollars) - Fresh grocery milk (1 gallon): $3.42 ($3.76 in todays dollars). You may also like: 100 lowest-paying jobs in America, - Fresh eggs (1 dozen): $0.57 ($5.01 in todays dollars) - White bread (1 pound): $0.07 ($1.40 in todays dollars) 3 In 1940, milk cost an average of $0.26 per gallon. - White bread (1 pound): $0.67 ($1.41 in todays dollars) After several years of slow growth, the economy grew 2.9% in 2015. - Fresh eggs (1 dozen): $1.68 ($1.82 in todays dollars) - Potatoes (10 pounds): $0.19 ($3.61 in todays dollars) - Round steak (1 pound): $0.35 ($5.99 in todays dollars) At the presidents request, Congress approved $3.75 billion in federal spending to jump-start the economy in April. The price of things: In 1963 a gallon of petrol cost 5 shillings. - Fresh grocery milk (1 gallon): $3.80 ($4.59 in todays dollars). Over the course of the next 10 months, the GDP dropped by nearly 2% and unemployment rose to 6.9%. - Fresh delivered milk (1/2 gallon): $0.46 ($4.47 in todays dollars). - White bread (1 pound): $0.97 ($1.34 in todays dollars) While the future looked bright, the Vietnam War and President Johnsons Great Society programsaimed at addressing poverty through measures like welfare, housing and community developmentsoon saw federal spending and debt increase significantly. [emailprotected]. There are a few guidelines and - Fresh grocery milk (1/2 gallon): $0.84 ($3.61 in todays dollars). - Sliced bacon (1 pound): $0.41 ($7.79 in todays dollars) I bought my first car,a 1947 Standard - Fresh delivered milk (1/2 gallon): $0.26 ($4.45 in todays dollars). The year also saw the launch of the dot-com bubble, with investors eagerly putting money into newly launched internet-based startups. - Round steak (1 pound): $0.91 ($8.81 in todays dollars) The real median household income was $60,684. - Round steak (1 pound): $3.10 ($5.03 in todays dollars) Consumers were also benefiting from tax cuts implemented the previous year, with the federal budget deficit continuing to shrink and the GDP growing to 6.5%. - Round steak (1 pound): $3.84 ($5.43 in todays dollars) Hours and earnings in the U.S, 1932-40. The subprime mortgage crisis had a domino effect on the economy. Some years the choices have been easier than others with prices low and income high. - Round steak (1 pound): $0.94 ($8.71 in todays dollars) - Fresh eggs (1 dozen): $0.33 ($6.41 in todays dollars) The U.S. economy in 1972 enjoyed prosperity marked by comparatively stable prices and unemployment falling to 5.1% by the end of the year. The Federal Reserve began loosening up on monetary policies enacted to curb inflation, and by October the inflation rate had fallen to 5%. - White bread (1 pound): $0.09 ($1.40 in todays dollars) - Fresh eggs (1 dozen): $1.91 ($2.13 in todays dollars) - Sliced bacon (1 pound): $2.47 ($4.10 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.63 ($4.47 in todays dollars). - White bread (1 pound): $0.86 ($1.37 in todays dollars) While the average family income went up to $13,720, the continued increase in prices9% from the year beforemeant families had less to spend. By March 1930, more than 3.2 million people were unemployed. - Sliced bacon (1 pound): $0.57 ($5.45 in todays dollars) In the second quarter of the year, families were paying more than 14% of their disposable income toward their debt and mortgage delinquencies, and bankruptcy cases also rose. - White bread (1 pound): $0.09 ($1.33 in todays dollars) The price of the dollar in the foreign exchange market also fell, and the dollar was devalued 10 cents. - Round steak (1 pound): $1.09 ($10.91 in todays dollars) - Sliced bacon (1 pound): $2.22 ($4.24 in todays dollars) That led to a banking crisis as borrowers defaulted on their loans, subsequently causing the huge financial institutions to collapse and take the stock market with them. The war meant that unemployment had virtually disappeared in the United States, as women, minorities, and teenagers joined the labor force in droves, bringing the unemployment rate to 1.2%. - Fresh grocery milk (1 gallon): $3.57 ($4.13 in todays dollars). - Fresh eggs (1 dozen): $0.57 ($4.96 in todays dollars) (Notes prepared by my father for the information of relatives in Australia. - Fresh eggs (1 dozen): $2.02 ($2.22 in todays dollars) - Fresh eggs (1 dozen): $0.78 ($4.57 in todays dollars) American prosperity continued, with unemployment at 3%. In 1973, average inflation nearly doubled to 6.16. The economy continued to improve, with the value of the dollar soaring. Defense jobs often paid workers more than they had ever earned before, allowing them the ability to save up or pay off debts. - Fresh grocery milk (1 gallon): $3.20 ($3.47 in todays dollars). - Fresh eggs (1 dozen): $1.66 ($2.01 in todays dollars) - Potatoes (1 pound): $0.33 ($0.63 in todays dollars) - Fresh eggs (1 dozen): $1.24 ($1.75 in todays dollars) Before the coronavirus pandemic hit, did you just head to the movies or the bar? - Potatoes (1 pound): $0.53 ($0.68 in todays dollars) - II. During 1977, consumer spending grew unusually fast, with people spending only a marginal amount of their income. - Round steak (1 pound): $1.75 ($10.26 in todays dollars) It also raised taxes on gas, Social Security, and corporate income, as well as extended limits on discretionary spending. With the war coming to an end, government spending rolled back and interest rates were raised to curb inflation, leading to decreased consumer demand and a recession. As unemployment continued to shrink, coming down to 16.9%, FDR was elected to a second term as president. - Sliced bacon (1 pound): $0.23 ($4.60 in todays dollars) [1] Prices are in pounds, shillings and pence. To accommodate for the smaller paycheck, consumers began switching to lower-priced brandsa trend that continued past the recession as consumers found themselves pleasantly surprised at how much they enjoyed the less expensive products. - White bread (1 pound): $0.18 ($1.72 in todays dollars) - Round steak (1 pound): $4.00 ($5.16 in todays dollars) - Sliced bacon (1 pound): $0.67 ($5.63 in todays dollars) - Fresh eggs (1 dozen): $1.40 ($1.43 in todays dollars) The median household income was $53,657, not statistically different from that of 2013. Those who were employed were also spending more money on health insurance. You may also like: Best value big colleges in America, - Fresh eggs (1 dozen): $0.77 ($3.73 in todays dollars) - Round steak (1 pound): $1.10 ($8.57 in todays dollars) - Round steak (1 pound): $6.15 ($6.75 in todays dollars) DATE: 1946 AUTHORS: In an effort to protect American businesses and farmers, President Herbert Hoover signed the Smoot-Hawley Tariff Act, which raised taxes on imports. Others, having to decide between transportation or housing seemed a bit more dire as the economy suffered and prices soared. - Round steak (1 pound): $5.79 ($6.15 in todays dollars) 4 In 1940, eggs cost an average of $0.33 per dozen. - Sliced bacon (1 pound): $0.24 ($4.56 in todays dollars) - Fresh eggs (1 dozen): $0.53 ($3.96 in todays dollars) - Fresh eggs (1 dozen): $1.04 ($1.66 in todays dollars) - White bread (1 pound): $0.24 ($1.61 in todays dollars) Due to restrictions on spending due to the war effort, Americans were also saving an average of 21% of their disposable income. - Round steak (1 pound): $1.78 ($8.14 in todays dollars) However, unemployment was still high at around 9% and with work hard to find, many were forced to make major lifestyle changes, such as selling their homes, moving in with family or going back to school to pursue alternative careers. Inflation also hovered around 4% throughout the year. - Fresh delivered milk (1/2 gallon): $0.66 ($4.24 in todays dollars). - White bread (1 pound): $0.08 ($1.50 in todays dollars) - Fresh grocery milk (1/2 gallon): $0.79 ($3.82 in todays dollars), The economy continued to struggle in 1975, with unemployment averaging 8.5%. - Round steak (1 pound): $0.26 ($5.21 in todays dollars) - Potatoes (1 pound): $0.21 ($0.57 in todays dollars) Congress approved tax cuts proposed by President Kennedy before his assasination, putting more money back into the pockets of American consumers. The unemployment rate was 5.3%the lowest it had been since 1974and consumers were also spending more, with real final sales growing 4% throughout the year. - White bread (1 pound): $1.33 ($1.41 in todays dollars) - White bread (1 pound): $0.25 ($1.56 in todays dollars) The average income of families once again hit record highs, increasing 5% to $6,200. But the attacks of 9/11 further exacerbated the effects of the recession, closing the stock markets for several days. Inflation and interest rates also fell. - Fresh delivered milk (1/2 gallon): $0.53 ($4.45 in todays dollars). The economy grew 2.9%, as consumers increased their spending 1.9%. - Round steak (1 pound): $0.39 ($6.91 in todays dollars) - Round steak (1 pound): $2.95 ($7.96 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.53 ($4.38 in todays dollars). - Round steak (1 pound): $3.09 ($4.93 in todays dollars) - Potatoes (10 pounds): $0.75 ($5.84 in todays dollars) The overthrow of the Shah of Iran led to the reduction of shipments of crude oil to the United States, resulting in high gas prices. The price of oil per barrel doubled, then quadrupled, causing severe gas shortages as well as an increase in food prices. - Fresh eggs (1 dozen): $0.59 ($5.71 in todays dollars) - Round steak (1 pound): $1.04 ($9.05 in todays dollars) By June, the economy had begun to grow again, but unemployment for the year remained high at 19%. - Sliced bacon (1 pound): $1.94 ($4.69 in todays dollars) And while Americans were making more than before, they were also borrowing more, carrying large debts for cars and education. - Potatoes (10 pounds): $0.90 ($6.04 in todays dollars) - Sliced bacon (1 pound): $5.29 ($5.91 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.48 ($4.71 in todays dollars). Note that this describes the situation still current - Round steak (1 pound): $1.08 ($8.92 in todays dollars) It may have cost rod. - Sliced bacon (1 pound): $3.03 ($4.58 in todays dollars) You may also like: Global trade by the numbers, - Fresh eggs (1 dozen): $0.38 ($7.22 in todays dollars) - Sliced bacon (1 pound): $5.47 ($5.67 in todays dollars) The year 1950 ushered in the era known as the Golden Age of American capitalism, two decades that saw a huge increase in the middle class, with blue-collar workers purchasing homes and buying appliances and cars with their rising wages. - Fresh eggs (1 dozen): $1.84 ($2.09 in todays dollars) - Sliced bacon (1 pound): $3.66 ($4.42 in todays dollars) The average family income was $3,700 in 1951$400 higher than the previous year. - Sliced bacon (1 pound): $4.56 ($5.17 in todays dollars) - White bread (1 pound): $1.42 ($1.61 in todays dollars) - Potatoes (10 pounds): $0.17 ($3.23 in todays dollars) - White bread (1 pound): $0.23 ($1.63 in todays dollars) What was the cost of living in 1948? A guinea is one pound and one shilling or 1.05. With high unemployment continuing to be a major hurdle for the country, President Barack Obama signed the The American Jobs Act. The industry was a major employer, making up one out of every six American jobs. - White bread (1 pound): $0.79 ($1.35 in todays dollars) - White bread (1 pound): $0.22 ($1.71 in todays dollars) - Sliced bacon (1 pound): $0.64 ($6.91 in todays dollars) - White bread (1 pound): $1.08 ($1.39 in todays dollars) Food marches and riots occurred across the country, as did two more banking panics. In an attempt to tackle the federal deficit, Congress passed the Omnibus Budget Reconciliation Act, which increased taxes and aimed to reduce spending by $225 billion over five years.