Inflation

[Keith Broaders]

The cost of living since 1955 has has skyrocketed. A McDonald's hamburger, fries and a medium drink would cost 35 cents and a Hershey bar would cost youonly 5 cents. Today the same lunch would cost you over $10.

A ounce of gold had a value of of $35. Toda Today the spot price of an ounce of gold  is over  $4,000.

When Georrge Washington was innauguated as our first Presudent an ounce of gold had a value of $2067.

When the Federal Reserve was created in 1913 the cost of an ounce of gold had not changed. In 1965 an ounce of gold cost just $35 and has a current value od over $ 4,000..

The minimum wage per hour was $1.25 wass per hour and a three bedroom home could be rented for about $49 per month. and  gasoline could be purchased for 29 cents per gallon.

You could mail a letter for 3 cents in 1955 but today the cost of mailing a letter has risen has to 78 cents.

Based on a projected inflation of 4% a postage stamp in 20 years will cost