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OT: Inflation

Discussion in 'Uncategorized Threads' started by 4th. down, Mar 13, 2007.

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  1. 4th. down

    4th. down Active Member

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    Was at a Whataburger yesterday, hamburger was $2.39. In the store they had a photo of 1st Whataburger in 1950 in Corpus Christi, TX. In the photo a hamburger was $.35.

    Question: What is the annual inflation rate for 57 yrs. Is it 12%?
     
  2. halfmile

    halfmile Well-Known Member

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  3. MTA Tom

    MTA Tom Active Member

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    $.35 in 1950 had the same buying power as $2.94 in 2007, according to the Bureau of Labor Statistics. The inflation rate for each year since 1914 can be found at http://www.minneapolisfed.org/research/data/us/calc/hist1913.cfm.
     
  4. MTA Tom

    MTA Tom Active Member

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    $4.00 in 1950 would have the same buying power as $33.60 in 2007.

    As an aside, I've long maintained that trapshooting is a bargain, relative to inflation. In 1947, the year I was born, the first 100 targets cost $5.00 at the Michigan State Shoot, including ATA and MTA fees. That would equal $45.38 in 2007 dollars. In 1958, the first 100 targets cost $8.50, equivalent to $59.53 in 2007! The first 100 targets will actually cost just $29.00 at the 2007 Michigan State shoot. The cost of shooting at the MTA has risen at only half the rate of inflation for the last 50 years.
     
  5. JBrooks

    JBrooks TS Member

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    Lokks like burgers and shot are a bargain compared to 1950.
     
  6. 4th. down

    4th. down Active Member

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    JBrooks, absolutely. Especially Whataburgers - they are not even staying with inflation which really is a surprise ($2.39 vs. $2.94). Yet I have a KickEEZ pad installed this week and it was $124.95 - now that is inflation.
     
  7. stokinpls

    stokinpls Well-Known Member

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    Anybody remember what a double cheeseburger cost at MickeyDeees in the '60s - the one they sell for $1 today? I know the hamburgers were $0.15 so cheeseburgers must have been $0.20, but can't remember the doublecheese.
     
  8. Pocatello

    Pocatello Active Member

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    To inflate $0.35 to $2.35 over 57 years, the required rate depends on how the prices are compounded. If compounded annualy, the required rate is slightly over 3.4%. If compounded continuously, the required rate is slightly under 3.4%. Any other compounding scheme (quarterly, monthly, daily, ...) at a fixed rate would fall somewhere in between, so let's call it good at 3.4%.

    How does one get these numbers?

    Annual: exp((ln(2.39/.35))/57)-1

    Continuous: (ln(2.39/.35))/57
     
  9. bigdogtx

    bigdogtx Well-Known Member

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    stokin,

    we didn't have doubles or big macs or double quarter pounders. look at photos of men and women in the 1960's. How many big guts or butts did you see then? Maybe we should have stayed with the singles....hmmmm?
     
  10. Sgt. Mike

    Sgt. Mike TS Member

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    Has your salary gone up in equal proportions? Michael
     
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