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Inflation - 1950 Dollar
Worth Only 12 Cents Today
DailyPaul.com
11-18-7
A dollar in 1950 will buy only 12 cents worth of goods today, 88% less than before. Inflation in my adult years increased average prices 1,000% or more:
 
Example 1: a postage stamp in the 1950s cost 3 cents; today's cost is 41 cents - 1,266% inflation
 
Example 2: a gallon of 90 Octane full-service gasoline cost 18 cents before; today it is $3.05 for self-service - 1,870 % inflation
 
Example 3: a house in 1959 cost $14,100; today's median price is $213,000 - 1,400% inflation
 
Example 4: a dental crown used to cost $40; today it's $1,100 - 2,750% inflation
 
Example 5: an ice cream cone in 1950 cost 5 cents; today its $2.50 - 4,900% inflation
 
Example 6: monthly government Medicare insurance premiums paid by seniors was $5.30 in 1970; its now $93.50 - 1,664% inflation; (and up 70% past 5 years)
 
Example 7: several generations ago a person worked 1.4 months per year to pay for government; he now works 5 months.