- Potatoes (10 pounds): $0.19 ($3.61 in todays dollars) - Fresh eggs (1 dozen): $0.70 ($6.82 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.57 ($4.44 in todays dollars). The inflation adjusted prices are based on the Consumer Price Index (CPI). - Fresh delivered milk (1/2 gallon): $0.52 ($4.57 in todays dollars). - Sliced bacon (1 pound): $3.24 ($4.69 in todays dollars) and prices, 562. - JSTOR - White bread (1 pound): $0.14 ($1.53 in todays dollars) - Round steak (1 pound): $3.12 ($5.18 in todays dollars) - Fresh delivered milk (1/2 gallon): $0.47 ($4.58 in todays dollars). However, Americans did save money on food, with more individuals opting to eat at home due to the high cost of dining out and a desire to eat healthier, as well as the availability of entertainment courtesy of streaming services. The unemployment rate was 6.8% and consumer spending decreased in two separate quarters. However, consumer confidence remained strong, with Americans spending 2.4% more than they did in 2015, doling out a significant amount of more money on health care, and personal insurance and pensions. - Fresh grocery milk (1/2 gallon): $0.84 ($3.61 in todays dollars). A family of four with two earners and two children brought in $53,615 after taxes, adjusted for inflation, and spent more than $12,000 on housing, $6,000 on food, and $1,444 on entertainment. Bureau of Labor Statistics (BLS) Consumer Price Index, Most common jobs in America 100 years ago, The cost of a beer the year you turned 21, History of the supermarket industry in America, Iconic images from economic recessions in U.S. history, 15 charities where you can see your direct impact. - Fresh delivered milk (1/2 gallon): $0.35 ($4.67 in todays dollars). The year started off with strong consumer spending, with car sales historically high. - Fresh delivered milk (1/2 gallon): $0.53 ($4.45 in todays dollars). The Federal Reserve began loosening up on monetary policies enacted to curb inflation, and by October the inflation rate had fallen to 5%. Income spending decreased this year and so did consumer spending. Do you splurge on bacon or hair dye? The median income for families was $4,200 in 1954, about the same as it was the previous year. When World War II ended in September 1945, the United States emerged economically stronger than any other country in the world. - Fresh grocery milk (1 gallon): $2.70 ($4.31 in todays dollars). - Sliced bacon (1 pound): $0.65 ($6.38 in todays dollars) - Sliced bacon (1 pound): $0.81 ($6.06 in todays dollars) - White bread (1 pound): $0.25 ($1.56 in todays dollars) It seems like the good old days, were really affordable when it comes to house buying with the best year to buy in 1945, with an average property price of - Fresh grocery milk (1/2 gallon): $1.11 ($2.64 in todays dollars). - Potatoes (1 pound): $0.26 ($0.57 in todays dollars) - Round steak (1 pound): $2.91 ($7.29 in todays dollars) - White bread (1 pound): $0.67 ($1.41 in todays dollars) - White bread (1 pound): $0.24 ($1.61 in todays dollars) Though America had been trying to avoid entering World War II, the attack on Pearl Harbor brought the war right to its shores. The effects of the 1981 tax cuts continued to be felt, with strong consumer and business spending. - Fresh delivered milk (1/2 gallon): $0.25 ($4.61 in todays dollars). restrictions, which you can review below. - White bread (1 pound): $0.76 ($1.33 in todays dollars) - Fresh eggs (1 dozen): $1.84 ($2.09 in todays dollars) - Round steak (1 pound): $4.13 ($5.69 in todays dollars) This was in large part due to rising technology, which was not only making consumers lives easier but making business more efficient. You may also like: Best value colleges in every state, - Fresh eggs (1 dozen): $1.01 ($2.01 in todays dollars) In The recession lasted eight months, with unemployment reaching 7%.