Originally Posted by
catmcclure
In 1956 minimum wage was $.75 an hour. Gas was $.25 a gallon...
Actually, I think that the price of gas has gone up quite a bit since 1956, even considering inflation.
There’s an inflation calculator at:
http://www.dollartimes.com/calculators/inflation.htm
that allows you to enter a money amount, select the year for that amount, and it calculates what it takes any other year to have the same “buying power”. It’s kind of fun to see how the price of things compare from one year to another.
Twentyfive cents in 1956 had the same buying power as $2.11 in 2012.
Seventyfive cents in 1956 had the same buying power as $6.32 in 2012.
CD in Oklahoma