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Sure, it's gone up a lot since the 70s, but appears artificially static low before that. 10 cents in 1900 (from the graph) would be over $3.00 in today's money.
by torgoguys 6y ago
Sure, it's gone up a lot since the 70s, but appears artificially static low before that. 10 cents in 1900 (from the graph) would be over $3.00 in today's money.
- frankbreetz 6y agoI wonder if that means we can expect the price to keep rising until it reaches $3.00. Or, maybe we will find out how efficient we got when the price levels out.
- ec109685 6y agoThere's nothing magical about the $3.00 price.
- paulcole 6y agoGood eye! It seems most of the price escalation has occurred since 10 April 1974, when the U.S. government lifted its price controls on food.
- deleted 6y ago[deleted]
- nybble41 6y agoPrice controls on food would explain the short interval where the price was being controlled: 1971 to 1974. What about the span from 1895 to 1970 where there were no price controls and yet the price hardly changed at all?
- christkv 6y agoI would think that in the period 1895 to 1970 the relative price of the can to wage growth means it got cheaper relative to purchasing power?