In 1955 the minimum wage was $1 per hour. Here is what that would buy.
https://cheezburger.com/3287557/things-you-could-buy-for-1-in-the-50s-and-60s
@Johncdvorak Some of those items don't lead to $20 being equivalent to $1, but more like $5-10. The 18 eggs for example, I just paid around $5 for 18 eggs yesterday, and sometimes in the past 4 years I've picked 30 up for $7.50. Canned corn is similar, frozen green beans as well. The steak is a counterexample though, since it's around $25 if you go to Texas Roadhouse. So inflation is variable for different items. In the last 4 years the 3 gallons of gas has been between $6 and $15 depending on the market that week. $12 right now. Chocolate bars, $10 or so. The calculation that would really go against that would be the one for what fraction of a TV you could buy for $1, and how much for the same fraction now.
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Adjusting for inflation, that $1 in 1955 is over $11.40 today.
@GetsGreased by a BS inflation calculator
try Shadowstats.com
@kazriko Just so: Inflation is a vector, not a scalar, as Michael Saylor says.
@Johncdvorak i bet I can get a knockoff slinky at the dollar store but thats about it