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Surprisingly, some things are bargains today — but not many. Remember 1972? Richard Nixon was president, the Oakland Athletics were on the way to winning the first of three consecutive World Series and All in the Family was the number 1 television show.All in the Family was the number 1 television show.
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Daily Telegraph - 1970 (5d); 1979 (10p) In today's money newspapers prices increased from 23p in 1970 to 38p in 1979. Today newspapers are much more expensive: Daily Mirror - 75p. Daily Express - 90p. Daily Telegraph - £2. Source: Tesco, prices as of March 2019. Newspaper circulation has halved since the 1970s.
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Disclaimer: You will not actually win a 1972 Corvette in the end. Half-gallon of milk in 1972. $1.09. 59¢. 39¢. 2 lb. can of coffee in 1970. $2.49. 69¢. $1.79.
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These are the prices of some typical family cars from the 1970s: 1974 Ford Pinto - $2385. 1974 Chevrolet Vega - $2379. 1976 American Motors Gremlin - $2898. 1974 Chevrolet Bel Air - $4358. 1974 Ford LTD- $4615. 1975 Chevrolet Monza 2 plus 2 - $3953. 1975 Chevrolet Nova - $3099. 1975 Buick Skylark - $3463.
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Bananas 12 cents per pound California 1970. Boneless Hams $2.29 per pound Nebraska 1976. cantaloupe 89 cents for 3 California 1970. Celery 38 cents Ohio 1971. Cranberries 29 cents per pound Ohio 1971. Fresh Beef Liver 49 Cents per pound California 1970. Fresh Grapes 69 cents per pound Illinois 1978.
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Cost of a first-class stamp: $0.10. Cost of a gallon of regular gas: $0.36. Cost of a dozen eggs: $0.52. Cost of a gallon of Milk: $1.20.
1972 Grocery Prices
The Cost of Living in 1972. It should shock no one that the cost of living has increased since 1972, no matter where you are in America. Whereas you could buy a loaf of bread for $0.25, milk for $1.33, a postage stamp for $0.08 and a gallon of gas for $0.52, you're now looking to pay way more today. In 2020, you're looking to pay way more.
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The U.S. economy in 1972 enjoyed prosperity marked by comparatively stable prices and unemployment falling to 5.1% by the end of the year. Price and wage controls enacted by the government had been successful and inflation had gone down to 3.27%.
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The U.S. dollar has lost 86% its value since 1972. $100 in 1972 is equivalent in purchasing power to about $737.84 today, an increase of $637.84 over 52 years. The dollar had an average inflation rate of 3.92% per year between 1972 and today, producing a cumulative price increase of 637.84%.
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Cost of Living 1972 - How Much things cost. Yearly Inflation Rate USA 3.27% . Yearly Inflation Rate UK 6.4% . Average Cost of new house $27,550.00 . Average Income per year $11,800.00 . Average Monthly Rent $165.00 . Cost of a gallon of Gas 55 cents . Year End Close Dow Jones Industrial Average 1020 . Roxanne Ladies Swimsuit $30.00 . Kodak Pocket
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The Corolla L sedan, the line's base model, has a current starting MSRP of more than $20,400 — about $5,500 over what it cost back then. And in 1972, a custom deluxe C20 Chevy Suburban cost.
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1lb Stork margarine. 11½p. £1.20. In 1972 we ate about 17lb of fish per year. Today's figure is very similar. In 1972 the three most popular fish were cod, haddock and herring. Cod cost 33p per pound, haddock 35p and herring 15p. Kippers were 21p per pound. [3]
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To get a feel for this, I have adjusted them for the increase in incomes from 1972 to today. You can see these adjusted prices in the column 'Income adjusted'. 1972 price. Income adjusted. Sinclair Executive calculator. £79. £2,000. 22" Pye colour TV (Currys) £239.00.
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Earnings by race and sex, 1970-1979. Table shows mean earnings for white, black, and Hispanic workers by sex for the years 1978 and 1988 (in this source, bottom of p. 6). Shows median and mean for each race/sex combination. Further breaks out earnings data by the number of weeks worked in 1979.
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A portable four-cycle dishwasher cost $189.95 in 1972, or about $1,335 in today's dollars. In part because of supply chain issues, dishwashers today can cost far more than they did in 1972, adjusted for inflation. To be fair, today's high-end dishwashers offer many different wash cycles and use far less energy and water.
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Most items look like bargains compared to 1972. But were they?
We take a nostalgic look at 1972 prices for gas, food, appliances and more, then adjust for inflation and reveal what's actually cheaper in 2022.