Compares the years 1914-23 with 1939-44. Housing, transportation and food were among the top items consumers were buying. - Fresh grocery milk (1/2 gallon): $1.37 ($2.62 in todays dollars). Popular Culture offers a glimpse into the lives of people and the big and little things that made up the everyday. - Sliced bacon (1 pound): $5.77 ($6.13 in todays dollars) - Fresh grocery milk (1 gallon): $3.11 ($3.77 in todays dollars). - White bread (1 pound): $0.25 ($1.56 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.48 ($4.59 in todays dollars). - Fresh delivered milk (1/2 gallon): $0.51 ($4.56 in todays dollars). - White bread (1 pound): $0.09 ($1.33 in todays dollars) - Potatoes (10 pounds): $0.34 ($5.43 in todays dollars) But the coronavirus pandemic completely upended the economy, with small business revenue down 20% as of September and unemployment reaching a high of nearly 15% in April. - Round steak (1 pound): $2.89 ($6.62 in todays dollars) - Round steak (1 pound): $1.75 ($10.26 in todays dollars) - Fresh grocery milk (1/2 gallon): $0.83 ($3.80 in todays dollars). Publications that use this data. - Sliced bacon (1 pound): $0.43 ($6.47 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 delivered milk (1/2 gallon): $0.26 ($4.45 in todays dollars). - Sliced bacon (1 pound): $3.38 ($4.66 in todays dollars) - Potatoes (1 pound): $0.21 ($0.51 in todays dollars) - Fresh eggs (1 dozen): $0.70 ($6.82 in todays dollars) You may also like: Global trade by the numbers, - Fresh eggs (1 dozen): $0.38 ($7.22 in todays dollars) Prices of everyday things in the past - The AnswerBank - Sliced bacon (1 pound): $3.24 ($4.69 in todays dollars) You may also like: The top women CEOs in America, - Fresh eggs (1 dozen): $0.91 ($1.38 in todays dollars) Contains a supplement for 1941. Those who were employed were also spending more money on health insurance. - Fresh eggs (1 dozen): $0.82 ($3.52 in todays dollars) Meanwhile, unemployment throughout the country continued to decrease, falling to 20.1%, while the economy grew 8.9%. - Sliced bacon (1 pound): $2.47 ($4.10 in todays dollars) You may also like: Can you guess the company these real 'Jeopardy!' During 1977, consumer spending grew unusually fast, with people spending only a marginal amount of their income. - Round steak (1 pound): $1.04 ($9.05 in todays dollars) - Fresh eggs (1 dozen): $1.84 ($2.09 in todays dollars) And while Americans were making more than before, they were also borrowing more, carrying large debts for cars and education. - White bread (1 pound): $0.07 ($1.33 in todays dollars) - Round steak (1 pound): $0.44 ($7.03 in todays dollars) Stacker took a look at historic average pricing data from the Bureau of Labor Statistics (BLS) Consumer Price Index to find what a sample basket of food cost from 1930 to 2020, including prices for fresh eggs, white bread, sliced bacon, round steak, potatoes, and milk. - Sliced bacon (1 pound): $0.37 ($6.83 in todays dollars) Consumer spending grew and unemployment went down to 5.3%. - Fresh delivered milk (1/2 gallon): $0.50 ($4.63 in todays dollars). Food marches and riots occurred across the country, as did two more banking panics. How much did bread cost in the 1940s? - White bread (1 pound): $1.44 ($1.67 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.26 ($4.83 in todays dollars). Foreign governments contested the legislation, leading to a decrease in foreign trade and weakening of the foreign economy. WebThere are no reliable figures for the casualties of the Soviet Union and China, the two countries in which casualties were undoubtedly greatest. When World War II ended in September 1945, the United States emerged economically stronger than any other country in the world. How much did things cost in 1961 - White bread (1 pound): $0.09 ($1.44 in todays dollars) [1] Prices are in pounds, shillings and pence. Prices Individuals saw their income taxes increase by 10%. To fund the war, President Johnson signed the Revenue and Expenditure Control Act, putting in place a $10 billion tax increase and a $6 billion spending reduction. - Fresh eggs (1 dozen): $0.91 ($1.64 in todays dollars) - White bread (1 pound): $0.25 ($1.61 in todays dollars) - Fresh grocery milk (1/2 gallon): $0.84 ($3.61 in todays dollars). - Fresh delivered milk (1/2 gallon): $0.39 ($4.55 in todays dollars). The unemployment rate fell to 3.9%, notably the lowest level in a generation. In April, House Republicans also passed a bill that cut taxes over the course of five years, as well as provided tax credits for families and reduced the capital gains tax. You may also like: 100 lowest-paying jobs in America, - Fresh eggs (1 dozen): $0.57 ($5.01 in todays dollars) That increase helped account for higher insurance rates, due to an increase in natural disasters, distracted driving accidents and costlier vehicle repairs. WebThere are no reliable figures for the casualties of the Soviet Union and China, the two countries in which casualties were undoubtedly greatest. By 2005, the average American home possessed 19.3 bank cards that they used for banking, borrowing and shopping. - White bread (1 pound): $0.35 ($1.85 in todays dollars) - Potatoes (1 pound): $0.36 ($0.58 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%. Coming off a stock market crash the previous year, the nation was plagued by economic peril. - Fresh grocery milk (1 gallon): $3.57 ($4.13 in todays dollars). BBC - WW2 People's War - RATIONING AND SHORTAGES The economy did better than expected, with inflation below 1.5% and unemployment averaging at around 5.8%. - Fresh delivered milk (1/2 gallon): $0.30 ($4.79 in todays dollars). How much did things cost when you were young? - WalesOnline You may also like: The top 50 party schools in America, - Fresh eggs (1 dozen): $0.61 ($5.92 in todays dollars) - Sliced bacon (1 pound): $0.32 ($5.99 in todays dollars) The economy grew at a rate of over 5%. By the end of the year, Americans were required to use government-issued vouchers to purchase sugar and coffee, as well as gas and clothing. [emailprotected]. - Potatoes (10 pounds): $0.68 ($6.51 in todays dollars) distribution partner, email us at - Sliced bacon (1 pound): $5.61 ($5.71 in todays dollars) In an attempt to restart economic growth and encourage consumer spending, the Federal Reserve eased monetary policies. An online calculator shows you how much prices have changed over the years in your part of the UK. Prices and Wages by Decade: 1940-1949 - University Of The Social Security Act was passed by President Roosevelt in August, providing financial assistance to senior citizens, the disabled, and children in low-income families, as well as retired workers 65 and older. The post-war recession that began in July 1953 continued, with the countrys GDP dropping by 2.2% and unemployment rising as high as 6%. - White bread (1 pound): $0.36 ($1.55 in todays dollars) Income also ticked upward, with the median family income increasing to $23,260. It was notably the largest increase in family income recorded in any year since World War II ended in 1945. Making matters worse was an Asian flu pandemic, which not only killed 116,000 Americans, but also triggered a $4 billion loss in exports between August 1957 to April 1958. - Sliced bacon (1 pound): $3.39 ($4.52 in todays dollars) - Sliced bacon (1 pound): $3.44 ($4.44 in todays dollars) In an attempt to prevent hoarding, the Office of Price Administration set price limits and food rations. With product prices rising only slightly, these record-high incomes were significant, giving American consumers more purchasing power than ever before. More federal programs were created to help the poor, unemployed and farmers, including the Soil Conservation and Domestic Allotment Act and the Rural Electrification Act, which provided help in bringing electricity to rural areas of the country. - White bread (1 pound): $0.09 ($1.66 in todays dollars) - Sliced bacon (1 pound): $1.79 ($7.15 in todays dollars) 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. - Potatoes (10 pounds): $1.37 ($8.03 in todays dollars) - White bread (1 pound): $0.55 ($1.26 in todays dollars) - Round steak (1 pound): $1.04 ($9.37 in todays dollars) Britain imported See how food prices compare to 30 years ago and you might be - Sliced bacon (1 pound): $0.79 ($7.11 in todays dollars) Wages in 1940s compared to 1910s. Public policies assisted returning veterans in securing jobs, purchasing homes and starting families; however, many minorities still faced challenges in partaking in these opportunities. - Round steak (1 pound): $6.58 - Potatoes (10 pounds): $1.34 ($6.48 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. - Chappie Dog Food, 7d (3p) per tin. - Fresh grocery milk (1/2 gallon): $1.05 ($3.32 in todays dollars). - White bread (1 pound): $0.23 ($1.63 in todays dollars) - Potatoes (10 pounds): $0.75 ($6.03 in todays dollars) You may also like: Best value big colleges in America, - Fresh eggs (1 dozen): $0.77 ($3.73 in todays dollars) - Potatoes (1 pound): $0.38 ($0.63 in todays dollars) - Sliced bacon (1 pound): $0.57 ($5.45 in todays dollars) - Round steak (1 pound): $1.08 ($8.92 in todays dollars) With millions of Americans out of work, underemployed, or laid off, the road to economic recovery will be a long one. - Round steak (1 pound): $4.14 ($5.02 in todays dollars) 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 (1 pound): $0.38 ($0.61 in todays dollars) And though prices increased 6% from the year before, the median family income also increased 9%, giving workers about $450 more in purchasing power. - Potatoes (10 pounds): $0.76 ($7.46 in todays dollars) - White bread (1 pound): $0.93 ($1.41 in todays dollars) The average family income rose 6% to $5,400. The real median household income was $60,684. storytelling. Having made it into the new century unscatched after the Y2K scare, customers also bought computers and software in large numbers, in addition to spending more money on energy after a considerably warm 1999. DATE: 1946 AUTHORS: - White bread (1 pound): $0.54 ($1.35 in todays dollars) - Fresh grocery milk (1 gallon): $3.20 ($3.47 in todays dollars). - Potatoes (10 pounds): $1.40 ($5.59 in todays dollars) - Round steak (1 pound): $2.91 ($7.29 in todays dollars) - Fresh eggs (1 dozen): $0.40 ($7.08 in todays dollars) The minimum wage was raised 50 cents to $4.75. - Fresh delivered milk (1/2 gallon): $0.41 ($4.43 in todays dollars). - Sliced bacon (1 pound): $0.71 ($6.18 in todays dollars) - Sliced bacon (1 pound): $0.64 ($6.91 in todays dollars) How much did things cost in 1961 - UK - Retrowow The average family income was $3,700 in 1951$400 higher than the previous year. - Sliced bacon (1 pound): $0.78 ($9.10 in todays dollars) - Sliced bacon (1 pound): $4.63 ($5.36 in todays dollars) - Round steak (1 pound): $0.85 ($9.30 in todays dollars) In 1965, the nations automobile industry reached its peak, with companies like Chevrolet, Ford, and Pontiac producing more than 11 million new cars, trucks, and buses. Minimum wage also increased this year to $1.40 per hour. - Fresh eggs (1 dozen): $0.57 ($4.96 in todays dollars) The stock market was depressed and interest rates rose. - Round steak (1 pound): $1.89 ($9.14 in todays dollars) Some years the choices have been easier than others with prices low and income high. Economists were predicting a year of growth and no recession as the value of the dollar rose. - Fresh eggs (1 dozen): $0.37 ($6.83 in todays dollars) cpi@ons.gov.uk. - White bread (1 pound): $0.97 ($1.34 in todays dollars) *In 1980, the BLS transitioned to tracking the price of one pound of potatoes instead of 10 pounds. Americans were on the move and car sales were there to prove it. 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): $0.16 ($1.57 in todays dollars) The economic recovery bolstered by the New Deal took a hit as unemployment increased to 20% and industrial production fell 32%. - Sliced bacon (1 pound): $0.77 ($8.32 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. In contrast, many married women joined the workforce halfway through the year when job opportunities began expanding, making an average median income of $1,100, about the same as they took home the year prior. - Fresh eggs (1 dozen): $1.00 ($2.10 in todays dollars) - White bread (1 pound): $0.08 ($1.42 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.35 ($4.67 in todays dollars). and prices, 562. - JSTOR - White bread (1 pound): $0.07 ($1.40 in todays dollars) - Potatoes (10 pounds): $0.47 ($6.95 in todays dollars) - Sliced bacon (1 pound): $1.94 ($5.07 in todays dollars) - Sliced bacon (1 pound): $0.66 ($5.80 in todays dollars) - Potatoes (1 pound): $0.21 ($0.55 in todays dollars) - White bread (1 pound): $0.88 ($1.46 in todays dollars) - Sliced bacon (1 pound): $2.22 ($4.24 in todays dollars) - Round steak (1 pound): $1.06 ($9.32 in todays dollars) - Sliced bacon (1 pound): $1.77 ($3.72 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. The unemployment rate was 6.8% and consumer spending decreased in two separate quarters. - Fresh eggs (1 dozen): $0.33 ($6.41 in todays dollars) - Potatoes (1 pound): $0.39 ($0.61 in todays dollars) WebBRITISH PRICES AND WAGE RATES: 1939-1941 SUMMARY I. - Potatoes (1 pound): $0.47 ($0.63 in todays dollars) - Fresh grocery milk (1 gallon): $3.19 ($4.25 in todays dollars). - Fresh eggs (1 dozen): $1.06 ($1.72 in todays dollars) - Sliced bacon (1 pound): $3.20 ($4.53 in todays dollars) - Fresh eggs (1 dozen): $0.92 ($1.57 in todays dollars) 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. 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. - White bread (1 pound): $0.87 ($1.41 in todays dollars) You may also like: How CEO pay compares with worker pay at 50 famous companies, - Fresh eggs (1 dozen): $2.47 ($2.71 in todays dollars) - Fresh grocery milk (1/2 gallon): $1.11 ($2.64 in todays dollars). - Fresh grocery milk (1 gallon): $3.23 ($3.43 in todays dollars). - Sliced bacon (1 pound): $1.99 ($3.49 in todays dollars) - Fresh eggs (1 dozen): $1.31 ($1.69 in todays dollars) Stacker believes in making the worlds data more accessible through - Fresh delivered milk (1/2 gallon): $0.66 ($4.24 in todays dollars). - Round steak (1 pound): $1.10 ($8.57 in todays dollars) THE PRICE OF MILK 28 Mar 1941 The Spectator Archive - Sliced bacon (1 pound): $0.74 ($6.85 in todays dollars) It seems like the good old days, were really affordable when it comes to house buying with the best year to buy in 1945, with an average property price of - Round steak (1 pound): $0.39 ($7.05 in todays dollars) Adding to the employment crisis was the rise in people who had exhausted their unemployment benefitsup more than 2.3 million from the previous year. The country was in a recession by the end of the year. - Potatoes (1 pound): $0.65 ($0.71 in todays dollars) - Round steak (1 pound): $3.40 ($6.12 in todays dollars) With high unemployment continuing to be a major hurdle for the country, President Barack Obama signed the The American Jobs Act. - Potatoes (10 pounds): $0.75 ($5.84 in todays dollars) - Fresh eggs (1 dozen): $0.72 ($7.78 in todays dollars) - White bread (1 pound): $1.29 ($1.34 in todays dollars) questions are about? - Fresh eggs (1 dozen): $2.02 ($2.22 in todays dollars) - Potatoes (1 pound): $0.25 ($0.72 in todays dollars) - Fresh eggs (1 dozen): $1.11 ($1.84 in todays dollars) On the bright side, oil and gas prices fell, leading to an increase in disposable income and a growth in consumer spending. - Fresh delivered milk (1/2 gallon): $0.44 ($4.75 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 All indicators continued to show a healthy, growing economy, with unemployment at 4.9% and inflation at around 3%. - Sliced bacon (1 pound): $0.84 ($6.55 in todays dollars) High interest rates and a decrease in buying power meant less spending, with people putting off buying big-ticket items such as cars and housing. Do you splurge on bacon or hair dye? - Sliced bacon (1 pound): $5.29 ($5.91 in todays dollars) People became increasingly frustrated with the lack of federal aid, and homeless families began to live in shelters in communities called Hoovervilles. The tumultuous year was capped off by the collapse of the Bank of the United States, the largest single bank failure in the countrys history. - Sliced bacon (1 pound): $0.67 ($7.33 in todays dollars) - Sliced bacon (1 pound): $1.46 ($4.61 in todays dollars) - White bread (1 pound): $1.33 ($1.41 in todays dollars) Some shops priced more expensive items in guineas. - Fresh grocery milk (1/2 gallon): $1.12 ($3.02 in todays dollars). The economy grew 2.9%, as consumers increased their spending 1.9%. Wars, extreme weather, political unrest, and more, have all affected the cost of goods and how Americans have spent their money. as well as image rights, data visualizations, forward planning tools, President Dwight D. Eisenhower signed legislation to construct an interstate highway system in 1956, leading to the creation of thousands of construction jobs as well as an increase in the number of roadside businesses. 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. - Fresh eggs (1 dozen): $1.74 ($1.80 in todays dollars) - Sliced bacon (1 pound): $0.41 ($7.68 in todays dollars) Real interest rates and oil prices also decreased, giving way to a strong post-recession recovery, aided largely by the tax cuts from the previous year. - Fresh grocery milk (1/2 gallon): $1.39 ($2.50 in todays dollars). - Fresh eggs (1 dozen): $0.87 ($2.07 in todays dollars) - White bread (1 pound): $0.09 ($1.63 in todays dollars) The food at home price index, which includes the cost of items such as cereal, meats, fruits and vegetables, and nonalcoholic beverages, increased 4.3% from March 2020 to June 2020, after rising only 1.1% over the previous 12 months. The newly inaugurated President Jimmy Carter made job creation a main priority and Congress passed the Economic Stimulus Appropriations Act. - White bread (1 pound): $0.36 ($1.44 in todays dollars) - Fresh eggs (1 dozen): $1.91 ($2.13 in todays dollars) - White bread (1 pound): $0.08 ($1.55 in todays dollars) 1 November announcement that radical politician Sir Charles Making matters worse were accounting scandals at firms such as Enron and Swissair, which prompted another stock market crash. - Round steak (1 pound): $4.61 ($5.33 in todays dollars) - Round steak (1 pound): $2.90 ($7.58 in todays dollars) To help finance the war effort, Americans purchased war bonds, sold at 75% of their face value in denominations of $25 up to $10,000. - Round steak (1 pound): $1.14 ($8.53 in todays dollars) - Potatoes (10 pounds): $0.24 ($4.25 in todays dollars) - Fresh eggs (1 dozen): $1.68 ($2.11 in todays dollars) - Potatoes (1 pound): $0.63 ($0.76 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.31 ($4.48 in todays dollars). Unemployment continued to trend downward, declining from 2.3 million in 2015 to 2 million in 2016. - Potatoes (10 pounds): $0.23 ($4.47 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. - Fresh delivered milk (1/2 gallon): $0.28 ($4.36 in todays dollars). However, this year was also marked by the burst of the dot-com bubble, when Nasdaq lost more than 75% of its value and a slew of internet companies went bankrupt. - Sliced bacon (1 pound): $1.93 ($3.48 in todays dollars) - White bread (1 pound): $1.44 ($1.58 in todays dollars) In - Sliced bacon (1 pound): $1.99 ($3.40 in todays dollars) - Round steak (1 pound): $1.78 ($8.14 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.52 ($4.57 in todays dollars). - Potatoes (10 pounds): $1.46 ($6.68 in todays dollars) WebFood agreed to hold the delivered price of flour at 25 s 6 d per sack of 280 lbs on condition that the bakers would hold the price of bread to consumers . Wages and salaries went up only slightly, with the minimum wage remaining at $5.15 per hour. - Potatoes (10 pounds): $0.24 ($4.11 in todays dollars) - White bread (1 pound): $0.51 ($1.61 in todays dollars) WebRich Mans Dinner: $16.30 for Martini Cocktail, Lynnhaven Oysters, Celery, Stuffed Olives, Green Turtle Soup, Terrapin, Champagne, Canvasback Duck, Mushrooms in Cream, French Asparagus, French Peas, Squash, Appolinaris, Tutti Frutti Ice Cream, Assorted Cakes, Cordial, Camembert Cheese, and Caf Ture. - Fresh eggs (1 dozen): $1.40 ($1.43 in todays dollars) - Potatoes (1 pound): $0.62 ($0.75 in todays dollars) To publish, simply grab the HTML code or text to the left and paste into - White bread (1 pound): $0.67 ($1.41 in todays dollars) - White bread (1 pound): $0.08 ($1.49 in todays dollars) Quiz reveals how much I went to the spare room and checked my copy of Radio Times for September 1946 (every home should have one!) - White bread (1 pound): $0.22 ($1.77 in todays dollars) The Iranian Revolution of 1979 paired with restrictive monetary policies aimed at lowering inflation plunged the country into another six-month recession, starting in January. - White bread (1 pound): $1.00 ($1.47 in todays dollars) - Potatoes (1 pound): $0.53 ($0.68 in todays dollars) Factories that had previously made ammunition switched to making consumer goods, and Americans who had been living under rations for the past three years were eager to spend their money on everything from cars, to clothes to appliances. - Round steak (1 pound): $2.77 ($6.58 in todays dollars) - Fresh eggs (1 dozen): $1.66 ($2.01 in todays dollars) - White bread (1 pound): $0.19 ($1.71 in todays dollars) - Sliced bacon (1 pound): $5.47 ($5.67 in todays dollars) - Round steak (1 pound): $1.11 ($10.90 in todays dollars) Inflation went up to 11.2% and interest rates soared to 20%. - Fresh eggs (1 dozen): $0.32 ($5.99 in todays dollars) - Fresh grocery milk (1 gallon): $2.84 ($4.44 in todays dollars). - Fresh eggs (1 dozen): $0.30 ($5.70 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. - Fresh delivered milk (1/2 gallon): $0.23 ($4.37 in todays dollars). How have prices changed over time? | Bank of England - Round steak (1 pound): $0.36 ($6.74 in todays dollars) Quiz: Can you guess which company owns these brands? In 1973, average inflation nearly doubled to 6.16. - Potatoes (10 pounds): $0.86 ($13.40 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.52 ($4.48 in todays dollars). The recession lasted eight months, with unemployment reaching 7%. - Potatoes (10 pounds): $0.25 ($4.68 in todays dollars) This was in large part due to rising technology, which was not only making consumers lives easier but making business more efficient. - Fresh eggs (1 dozen): $0.90 ($2.58 in todays dollars) The effects of the 1981 tax cuts continued to be felt, with strong consumer and business spending. However, they saw some relief in the form of a tax cut, proposed by President Gerald Ford and approved by Congress in March. - Fresh grocery milk (1 gallon): $2.70 ($4.31 in todays dollars). - Potatoes (10 pounds): $1.66 ($8.76 in todays dollars) - Potatoes (10 pounds): $0.68 ($4.37 in todays dollars) - Fresh eggs (1 dozen): $1.47 ($1.56 in todays dollars) - Sliced bacon (1 pound): $1.71 ($7.82 in todays dollars) The list of food that required vouchers expanded to include meat, cheese, fats, canned fish, and canned milk. The economy was a central tenant for the newly elected President Reagen, who implemented a series of tax cuts in the hopes of encouraging consumers to spend more, thereby stimulating business growth and hiring. - Fresh grocery milk (1/2 gallon): $1.13 ($2.95 in todays dollars). - Potatoes (10 pounds): $0.57 ($5.28 in todays dollars) Minimum wage was also increased to $2.10, - Fresh eggs (1 dozen): $0.84 ($3.84 in todays dollars) - White bread (1 pound): $0.69 ($1.37 in todays dollars) Consumer confidence and spending continued to trend upward, as did debt levels meant to support spending activities. War and Postwar Wages, Prices, and Hours, 1914-23 and 1939-44 : Bulletin of the United States Bureau of Labor Statistics, No.
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