As far as consumer goods and services go, $1 won’t buy as much as it will in 2022. In the past, $1 could buy a lot more than you think. Remember when a dollar could buy you six Hershey’s bars? You might have if you were born in 1973. Today, how much does it cost to fill up a car with three gallons of gas? Is that a ten-dollar bill? More? These 3 gallons cost less than a dollar in 1966.
Despite the fact that these examples are amusing to look at, they serve as a powerful illustration of inflation’s devastation. A dollar’s purchasing power decreases over time, as evidenced by these various examples of inflation. In 2022, you may look back and be amazed at how “cheap” things were, as inflation is expected to continue to rise in the years to come.
A sample of prices from 1940 to 2021 was taken to see how much $1 could have bought in the year you were born. A common good or service that costs around $1 will be shown for each year. The list is both educational and entertaining, as it clearly demonstrates how the purchasing power of $1 decreases 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
