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This is interesting. https://www.usinflationcalculator.com/ https://www.usinflationcalculator.com/ In 1913 dollars a 10 cent can of soup is $2.66 USD today.
by lebuffon 6y ago
This is interesting.
https://www.usinflationcalculator.com/ https://www.usinflationcalculator.com/
In 1913 dollars a 10 cent can of soup is $2.66 USD today.
So at $1.00 in 2021 its a bargain. :)
I think modern manufacturing processes have made common items cheaper to produce and this is how the ordinary citizen has been able to survive 40 years with very little real wage movement. (my opinion)
- siltpotato 6y agoThere's a graph somewhere on my laptop of the price of eggs over time calculated in Excel using CPI. The real-price has gone down in the U.S.
- deleted 6y ago[deleted]
- csharptwdec19 6y agoI wouldn't suggest using the 1913 price as a baseline. Noticing in the article, the price stayed close to 10 cents until 1973-1974ish. That time range (probably-not-coincidentally) is when the Gas shortages happen. This is interesting to think about. Transportation/logistic advancements in the first half of the 1900s allowed pricing at worst to stay consistent over a long period of time, at best allowed companies to increase their profits as supply chains were established that made transporting completed product cheaper. Thinking about things like trucks etc here.
- tfehring 6y agoProduction processes more generally, yeah. A farmer using 1913 technology can’t even come close to competing in today’s market. It would be hard even in high-end price-insensitive segments (think farmers markets and farm to table restaurants). Americans spent more on food than on housing until ~1950, despite going to restaurants much less frequently than today. Today they spend over 3x as much on housing as food. https://www.theatlantic.com/business/archive/2012/04/how-america-spends-money-100-years-in-the-life-of-the-family-budget/255475/ https://www.theatlantic.com/business/archive/2012/04/how-ame...