What were average prices in 1985?

Answer

A dollar in 1985 is the equivalent of $2.03 today, so all sorts of things were cheaper then when compared to now. A house that cost $84,300 in 1985 would cost $171,423 as of 2014.

In 1985, the average car was priced at about $9,005, and gas to power it was just $1.24 per gallon, compared with May 2014's average price of $3.64 per gallon. Mailing a letter with a first class stamp from the U.S. Postal Service was just 22 cents in 1985; 2014's price for a postage stamp is more than double that — 49 cents. Bread was 74 cents a loaf, and milk was around $1.98 a gallon. Although these prices seem incredibly cheap, keep in mind that the average income in 1985 was $12,747 — so while things may have cost less, people made less money. According to the U.S. Department of Labor, the federal minimum wage in 1985 under the Fair Labor Standards Act was just $3.35 an hour, although it was boosted in 1990 to $3.80 an hour. May 2014's federal minimum wage of $7.25 per hour, so as wages go up, prices and the cost of living generally follow suit.

Q&A Related to "What were average prices in 1985?"
In the 1960's a new house cost $12,700.00, the average income was $5,315.00, a gallon of gas was 25 cents and a new car cost $2,600.00.
http://www.ask.com/web-answers/Society/Other/how_m...
Well...in 1985 they had a two cheeseburger meal with fries and a coke for 2.99. But here is something that might interest you. Look at all these price differences,, from the past
http://wiki.answers.com/Q/How_much_did_a_McDonald'...
Chicken was about the same price, or a little cheaper, in 1985 which was 70-90 cent.
http://www.chacha.com/question/how-much-did-chicke...
A microwave oven would cost generally around $50 in the 1980's. Cha...
http://www.chacha.com/question/how-much-did-microw...
Explore this Topic
If you were to go out on a date in 1985, it would cost you $1. 09 for a gallon of gas. A movie ticket would cost you $2. 75. You would probably have listened to ...
In 1950, things were a lot cheaper like a car cost £1078.05, a house cost £8932.40, a loaf of bread cost 0.09 cents while milk cost 0.51 cents per ...
In 1940 things were relatively cheap and inflation was very low. The average cost of a house was £0.5k while today the same house is more than £101.5k ...
About -  Privacy -  Careers -  Ask Blog -  Mobile -  Help -  Feedback  -  Sitemap  © 2014 Ask.com