For the most part, things cost significantly less in 1954 than they do in the 21st century. Many common household items were less than $1. A loaf of bread cost about 17 cents, and 1 pound of cheese cost between 50 cents and 70 cents, depending on the type.Know More
Purchasing a postage stamp only required 3 cents, and steak for one person cost about 95 cents. A movie ticket was approximately 70 cents, and 1 gallon of gas was only 22 cents.
Not everything was significantly less expensive in 1954 than contemporary times, however. A gallon of milk cost about 91 cents, which is only about $1.25 less than the average price of 1 gallon of milk in 2014. A new washing machine cost about $155 in 1954, which is only about $100 less than a basic top-loading model costs today.
A person could purchase a new house for less than $20,000 in 1954, and for less than $2,000, he could put a new car in the driveway. A new, fashionable dress could be purchased for around $15. It's also important to consider that the average annual salary during this era was less than $4,000. Adjusted for inflation, that would be the equivalent of about $35,000 per year in 2014.Learn more about Currency & Conversions
According to the Federal Reserve Bank of Minneapolis, $1 in 1900 was equivalent to approximately $28 in 2013. The average yearly wage was $432, and a steam-powered car cost $1,000. The average home in America sold for approximately $5,000 in 1900.Full Answer >
Based on the inflation rate calculator recommended by Bureau of Labor Statistics (BLS), one dollar in 1974 had approximately five times the spending power of a dollar in 2014.Full Answer >
In 1929, a loaf of bread cost 10 cents, insurance was $7 per month, eggs were 45 cents per dozen, two blocks of salt cost $1.80, and two new tubs cost $1.25. These prices varied, depending on the state.Full Answer >
The price of a Dodge Brothers Touring Car in 1914 was $500, and in 2014, the average price of buying an automobile is $32,086. Many other prices are exceedingly different in 2014 as compared to a century ago. In 1914, a gallon of gas was roughly 12 cents, and in 2014, the average cost of a gallon of gas is $3.44.Full Answer >