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For example, the price of a gallon of gas was about $0.21 in 1955. Today, a gallon costs an average of $3.07, which means the cost of gas has increased by over 1000%. Food was a lot cheaper in.
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1947: The McDonald brothers dreamed of bigger things for their business. 1955: 15 cents (adjusted for inflation, $1.13) 2007: 89 cents (Subject to change depending on location)
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How much did things cost in 1955? These are some prices of a few items in 1955. 1955 price. Inflation adjusted. Gallon of petrol. 4s 6½d. £4.50. Pint of beer (bottled) [*] 1s 11d.
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This table gives you an idea of how prices have changed since 1955. Many things were much cheaper: houses, cars, posting a letter and cigarettes. These are some prices of items in 1955. 1950 price. Inflation adjusted. Average house price (1) $11,742. $120,000. Gallon of gas.
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Since the average price for potatoes today is about 57 cents a pound, it seems they worth about the same. And probably taste equally as delicious. 2. A Quart of Milk. A necessity in most homes, milk was priced fairly low in 1955 at an average cost of about 22 cents a quart.
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1958 - Sears Silvertone portable TV - $119.95. 1959 - Philco Safari portable battery TV - $250. At the beginning of the 1950s a black and white TV sold from $200 to $400 depending on its size and quality. The price of black and white sets came down and the size of the tube got bigger through the decade.
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1955 - Fresh eggs (1 dozen): $0.61 ($5.92 in today's dollars). Price and wage controls enacted by the government had been successful and inflation had gone down to 3.27%. 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.
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How much did food cost in the late 1950s? Find out in this bulletin of the Bureau of Labor Statistics, which provides detailed data on retail prices of food in the U.S. from 1955 to 1956. Compare the prices of different food items across regions, seasons, and income groups.
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If you're wondering how much did things cost in the 1950s, I listed below the cost of different items during that era, including milk, bread, cars, and homes.. Prices in 1955. $1 in 1955 is worth $11.41 today if you factor in inflation. House: $9,100; Average income: $4,137; Ford car: $1606-$2944; Milk: $.92; Gas: $.23;
THE PRICE OF THINGS
How did food prices change in the United States between 1955 and 1956? Find out in this bulletin of the Bureau of Labor Statistics, which provides detailed data and analysis on retail food prices and their relation to income, consumption, and production.
Dining out in Charlotte Christmas 1970. Photo courtesy of Charlotte
Working out the cost in today's terms isn't the whole story. You also have to think about how much people earned. People were a lot poorer in the 1950s. Average wages increased from around £5 in 1950 to £9 in 1959. Allowing for inflation, these figures are £125 and £150. Today average weekly earnings are more than £500.
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The U.S. dollar has lost 91% its value since 1955. $100 in 1955 is equivalent in purchasing power to about $1,150.81 today, an increase of $1,050.81 over 69 years. The dollar had an average inflation rate of 3.60% per year between 1955 and today, producing a cumulative price increase of 1,050.81%.
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In 1955 the price of butter was about 71 cents per pound. By today's standards that would be a whopping $6.28! That cost is much higher than the $2.96 we pay for a pound of most types of butter in the dairy aisle today. Library of Congress. The next time you think you're paying higher prices for basic goods, remember that it goes both ways.
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The 1955 value guide also has some new-car prices, and if you do the inflation math of multiplying by 8.87 for today's money, they still seem like a bargain. Some examples of what you could have bought brand new in 1955: • A Chevy Bel Air sport coupe for $2,605. • A De Soto Firedome Sportsman two-door hardtop, $2,986.
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The average wages were now $3,851 per year, and the minimum wage was raised to $1.00 per hour. The first McDonalds was erected in 1955 and more fast foods and TV dinners are appearing including fish fingers. The first cans of Coca-Cola are sold up till then it had only been sold in bottles.
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As reported on NPR, Americans went from spending almost 18% of their income on food in 1960 to just 10% today, even though we spend more money at restaurants. Milk: $2.90 per gallon. Eggs: $1.54 per dozen. Bread: $1.99 for a loaf. Ground beef: $6.29 per pound. We found the most popular fast food chain in every state.