Regarding Sonny Starks’ letter, “When gas was a better buy,†he failed to note inflation. Back in 1952 gas was 29 cents gallon. Adjusted for inflation to 2005 dollars that gallon of gas is $2.06, about what it was pre-price gouge last year.
Also note the average annual income in 1952 was $3,515, adjusted to 2005 dollars that income equates to $40,800 now. The average wage for 2002-2004 was $44,473. Most Americans wish they had a single job with an annual income like that. Doing quick math that takes four full time minimum wage jobs or a $20 an hour full-time job to earn that today.
Dairy products are a good value these days. Adjusted for inflation a dozen eggs would be $5.12 now and a gallon of milk would be $6.83. Gold was a bargain in 1952 at $35 an ounce; inflated to today that would be $247. First class postage 3 cents then would be 21 cents now. The extra 20 cents probably helps subsidize junk mail since there wasn’t such a thing in the ‘50s.
The average car price then $1,850, inflated to today’s dollars is $13,160, about what you’d pay for a car with comparable features today. Factor in inflation and things haven’t changed all that much.
Walt Mistler
Oak Harbor