$10 in 1987 is equivalent in purchasing power to about $27.77 today in the USA.
@Ace1000ks2 күн бұрын
Depends on how you gauge it. I live in California. Back in 1987, one gallon of gasoline was $0.65, and today it costs $4.25. If you gauge it this way then $10 in 1987 would be equivalent to $6.53 today. $10 in 1987 is $65.38 today.
@Overonator2 күн бұрын
@@Ace1000ks I don't know I did a search of $10 dollar in 1987 would buy you and I got $27.77 from a website. And then I tried another website and got very close to the same result.
@Ace1000ksКүн бұрын
@Overonator A steak and lobster dinner at Sizzler cost about $5.99 in 1987. How much does that cost now? I went to a seafood restaurant with my friend about a week ago, and it cost me $90 for two people. This isn't including tip which was $22. The whole dinner cost $121 with tax and the tip. That is real inflation. The numbers you are getting is inflation that excluded food and energy. When I went to Disneyland in 1985, it cost about $17, and today it costs $105. I took .you nephew there last year.
@OveronatorКүн бұрын
@@Ace1000ks But the costs can go up even without inflation. You have to separate inflation from companies hiking the price on the pricing strategy they call "how much can the market bare."
@Ace1000ksКүн бұрын
@@Overonator The world is awash with dollars ever since 1971, and this is why a price of an average home in 1971 was $35k. Today, the exact same home costs $550k. My parents bought their home in 1983 for $120k, and it is worth $950k today. You have Wall Street firms that have unlimited amounts of capital to buy up all the real estate they want, or pump up any asset. If they have any issues, they will get bailed out by the government, like you saw in 2008.