In 2022, one dollar will not be able to purchase nearly as much in terms of goods and services. On the other hand, you might be surprised to learn how much you could get for one dollar in years gone by. Do you remember the days when you could buy six Hershey’s bars with just one dollar? You might have been able to if you had been alive in 1973. How much does it cost for three gallons of gas in your community right now? Ten dollars? More? In 1966, the price of those three gallons was less than one dollar.
These illustrations are not only interesting to look at, but they also serve as an important representation of the devastation that can be caused by inflation. As shown by the fluctuating prices of these various goods, the purchasing power of one dollar gradually decreases as a result of inflation. It is possible that in ten or twenty years from now, you will look back once more and be amazed at how “cheap” things were in the year 2022. This is because inflation will have driven prices even higher in the years to come.
We took a sample of prices from 1940 to 2021 and compared them to see how much you could have bought with one dollar in the year you were born. You will see an illustration of a common good or service that costs approximately one dollar for each year. The list is not only fascinating but also instructive because it illustrates in black and white how the purchasing power of one dollar has decreased over time.
What $1 Could Buy the Year You Were Born
1945-1949
- 1945: B-29 Boeing Super Fortress Bomber model kit, $0.95
- 1946: 2 RCA Victor records, $0.89
- 1947: Apple tree, $0.98
- 1948: Men’s belt, $0.94
- 1949: Boy’s cotton shirt, $0.97
1950-1954
- 1950: Throw pillow, $0.80
- 1951: Baseball cap, $0.95
- 1952: 1 cake pan & 6 custard cups, $1.05
- 1953: 1 quart of paint, $0.98
- 1954: 4-piece screwdriver set, $0.98
1955-1959
- 1955: 2 McDonald’s meals (1 burger, fries and soda), $0.70
- 1956: Hair spray, $1.05
- 1957: Baby gown, $0.87
- 1958: Bath towel, $0.91
- 1959: Pitcher, $0.91
1960-1964
- 1960: Tights/nylons, $0.94
- 1961: 2 Sunday New York Times, $1.00
- 1962: 1 yard of fabric, $0.94
- 1963: Movie ticket, $0.86
- 1964: 2,000 cigarette papers, $0.97
1965-1969
- 1965: Rifle carrying case, $0.88
- 1966: 3 gallons of gas, $0.96
- 1967: 2 Big Macs, $0.90
- 1968: Baby blanket, $1.00
- 1969: Set of greeting cards, $0.99
1970-1974
- 1970: 2 pillowcases, $0.88
- 1971: Rake, $1.09
- 1972: Wrench, $0.98
- 1973: 6 Hershey’s bars, $0.90
- 1974: Barbie outfit, $0.77
1975-1979
- 1975: 50 vitamins, $1.00
- 1976: Knee socks, $0.99
- 1977: Skein of yarn, $0.97
- 1978: 6 first-class postage stamps, $0.90
- 1979: 8 guitar picks, $0.98
1980-1984
- 1980: 1/2 gallon milk, $1.02
- 1981: 1 dozen eggs, $0.97
- 1982: Pack of cigarettes, $0.82
- 1983: 2 D batteries, $0.99
- 1984: 1 pound of grapes, $0.99
1985-1989
- 1985: California Lottery ticket, $1
- 1986: 3 shots of bourbon, $0.97
- 1987: 2 bags of gift wrapping bows, $1
- 1988: 4 packs of gum, $1
- 1989: 1 gallon of gas, $1
1990-1994
- 1990: 1 share of Microsoft, $0.94
- 1991: 1 share of Disney, $1
- 1992: 1/2 pound bacon, $0.93
- 1993: 4 vending machine toys/gumballs, $1
- 1994: 1/2 bag of potato chips, $1
1995-1999
- 1995: Ballpoint pen ink refill, $1
- 1996: 1/2 pound chicken breast, $0.96
- 1997: Die-cast Nascar model, $1.33
- 1998: 2 liters cola, $0.98
- 1999: 11 green Lego bricks, $0.98
2000-2004
- 2000: Loaf of bread, $0.99
- 2001: Postage for three letters, $1.02
- 2002: Taco Bell bean burrito, $0.69
- 2003: Ticket to Blink-182’s DollaBill Tour, $1
- 2004: 1 share of Apple, $0.94
2005-2009
- 2005: 10 KWHs electricity, $1
- 2006: 2 pounds bananas, $0.96
- 2007: iTunes track, $0.99
- 2008: Slice of New York pizza, $1
- 2009: 1/2 a weekday New York Times, $1
2010-2014
- 2010: 1/3 gallon of gas, $0.93
- 2011: 1/3 pound ground beef, $1
- 2012: Fitness app, $0.99
- 2013: 1 pound of navel oranges, $1
- 2014: 1 car air freshener, $1
2015-2019
- 2015: 50GB of storage (iCloud), $0.99
- 2016: Shot of whiskey, $0.99
- 2017: Makeup brush set, $0.89
- 2018: A dozen Krispy Kreme donuts, $1
- 2019: 4 dry erase markers, $1
2020-2021
- 2020: Wendy’s Frosty (small), $0.99
- 2021: Amazon Kindle eBook, $.099
