Recently, I came across a large binder containing every single issue of FACT’s newsletter that has ever been published. I had such a good time re-reading all of the articles (laughing at just how much times have changed!) and marveling over how much FACT has grown and improved over the years. We thought we would share some of those with all of you. We hope you enjoy our little “trip down Memory Lane”.
From the premier issue of FACTFinder in 1984:
How Much Did your 1967 Dollar Buy in 1984?
According to the information from the Bureau of Labor Statistics, your 1967 dollar would buy only 28.5 cents’ worth of goods in 1984. This is an average for all goods and services. It’s really interesting to look at individual items and see the change in price from 1967 and 1984.
Television sets, for example, had a ZERO PERCENT increase in price during the 17-year span…while on the other end of the scale, the cost of a hospital room increased 560.7%!
In between the two extremes…
–The cost of ground beef… up 159.7%
–The cost of sirloin steak… up 180.9%
–The cost of a home… up 203.9%
–The cost of coffee… up 268.9%
–The cost of furniture… up 297.6%
–The cost of fuel oil… up 559.9%
It may (or may not) be significant to note that the cost of women’s and girls’ clothing increased only 61.8% while the cost of men’s and boys’ clothing increased 90.7% (a sign of increasing male vanity… or are women simply better shoppers)?
You can also be the judge in determining the significance, if any, in the fact that the cost of whiskey increased only 53.3% while the cost of nonalcoholic drinks went up a whopping 331.7% — and that the cost of eating at home went up 167.7% while the cost of eating out went up 232.6%.
One final set of statistics which we’ll toss in to the endless debate on whether to rent or own your own home…the cost of residential rent increased 147.2% between 1967 and 1984, while the cost of home maintenance increased 309.6%.
Whew! Wouldn’t it be fun to compare those numbers to the cost of the same things in 2020? …or maybe not…