By Lore Ramirez
May 11, 2024, 07:00 AM EDT
Although many Baby Boomers forget, the reality is that The power of the dollar has changed dramatically in the last 100 years. According to the CPI Inflation Calculator, $1 dollar in 1920 is equivalent in purchasing power to approximately $15.62 dollars today, which reveals that an increase of $14.62 dollars in 104 years.
Simply put, this means that current prices are 15.62 times higher than average prices in 1920, according to the consumer price index of the Bureau of Labor Statistics. The reality is that a dollar today only buys 6.40% of what it could buy in 1920. Keep reading to learn about the surprising amount of things you could buy with $1 in the 1920s.
Lunch in a restaurant for 2 people
If you wanted to share a meal with someone special in the 1920s, you didn’t even have to spend your entire dollar; Well, in that year, feeding two people in a restaurant cost around $0.70 dollars.
Toilet paper
The 1920s were a great time for toilet papersince it was its most profitable time where you could buy 30 rolls for $1 dollar, 2,400% more in 2021.
Vinyl records
In the 1920s, vinyl records cost about $1.; However, most people listened to music on the radio because the gramophone needed to play those types of records cost around $30 dollars, something quite expensive for many.
Clothes
In the 1920s you could buy pajamas for $1. and a women’s skirt for a little more, between $1.20 and $1.75 dollars. And if you wanted to take your husband’s suits to be ironed, it only cost you $1 for two of them.
Three gallons of gasoline
In the 1920s a gallon of gasoline cost about $0.30.so your dollar could help you pay 3 and you have 10 extra cents to spend at the dispatcher’s store.
6 tickets to the cinema
In the 1920s, if you wanted to go to the movies with your whole family, it was possible. Movie tickets in 1920 cost only $0.15 dollars so mom, dad and her four children could go and still have 10 cents to spare. The only “bad” thing was that the films were silent for almost the entire decade and cinema with audio was released until 1927.
Food
In the 1920s, you paid about $0.39 for a pound of chicken at the market.. The beef filet was very similar in price and cost you $0.40 per pound. If you were looking for a cheaper protein option there is ham at only $0.25 per pound and for those who did not eat meat, trout was around $0.22 per pound.
With a single dollar in 1920 you could buy two pounds of coffee for $0.47 per pound.a dozen eggs at the same price, a loaf of bread for $0.12 dollars and to accompany a little butter that cost about $0.70 dollars a pound.
Keep reading:
– Toy sales fell 8%, according to a new report
– 47% of US parents struggle with high diaper prices, according to new analysis
– Less than 50% of Americans say they have enough emergency savings