The year is 1942

[JohnMOhio]

I read the post that you folks were discussing inflation and thought I would post the following information.

COST OF LIVING
New House $3,775
National Average Income $1,885
Minimum Wage $ 0.30 per hour
New Car $920
Average Rent $35 per month
Gasoline $ 0.15 per gallon
Harvard Tuition $420
Movie Ticket $0.30
Postage Stamp $ 0.03
One Ounce of Gold $33.85

A side note: Time Magazine Person of the Year
Joseph Stalin

COST OF FOOD
Granulated Sugar $ .59 for 10 pounds
Milk $ .60 per gallon
Ground Coffee $ .45 per pound
Bacon $ .45 per pound
Eggs $ .20 per dozen
Ground Beef $ .30 per pound
Fresh Bread $ .09 a loaf

[Merc]

Adjusted for inflation:

House $61,187
Ave. Income $30,553
Min.Wage $4.86
New Car $14,911
Ave. Rent $567
Gas $2.43
Harvard Tuition $6,807
Postage Stump $.49
Gold $549/oz
Sugar $9.56
Milk $9.73
Coffee $7.29
Bacon $7.29
Eggs $3.24
Ground beef $4.86
Bread $1.46

[Merc]

I bought an old photo album dated 1919 from an antique store in Braddock, PA a few blocks away from Carnegie’s first steelmill known today as the Edgar Thompson Works. It had dozens of military photos from Kelly airfield in TX. Included was a legal release form for $198 paid for physical damages. I guess two former Army buddies got into a fight and one was beaten up so badly that he required medical treatment. I checked the inflation calculator and $198 in 1924 is equal to $2,875 in today’s dollars.

[JB White]

The inflation calculator doesn't take into account taxes, fees, and various up charges. Can't touch a decent car for that kind of money and local high schools are known to get twice as much as what Harvard would supposedly be asking. Just filled the tank. Add a dollar per gallon....

[Sunray]

In 1942, a lot of that stuff was rationed. That started, Stateside, on 1 March, 1942. All of the food listed was rationed. Ten pounds of sugar, first thing rationed Stateside, would have been your ration for 20 weeks. So was gas and especially tires.

https://laurenfix.com/article/gas-rationing-gas-ration-stickers/

There were no new cars. No cars, commercial trucks, or auto parts were made from February 1942 to October 1945.
U.S. Federal minimum wage was set at 40 cents per hour in 1941 after having been abolished by the SC in 1935.
Harvard tuition was $420 per year in 1938.
Ted Landphair’s America is mostly confused. Nobody knew who Ike was in 1942. Never mind liking him. That was from his election bid in 1952. He was an obscure Colonel until just before the Torch landings.

[Merc]

The inflation calculator shows us what we paid for staple items in 1942 and what that money is worth today. It’s not meant to predict what we should pay for stuff today, but it’s surprisingly close on some items.

Don’t forget how much things have changed in 77 years. I remember how cars rusted away up north in just a few years and the drive train was worn out in fewer than 100,000 miles. My 8 year old Sienna with more than 170,000 miles is holding up well. No rust and it still makes the trip to Florida every year.

Gas can still be found in some states like OH and SC for less than $3/gallon.

Each of my grandchildren had a 529 plan that got them through the first 2 years at Pitt. The same amount of money probably would have only paid for the freshman year at Harvard.

[JOHN COOK]

Gas can still be found in some states like OH and SC for less than $3/gallon.

You are correct. Coming home this afternoon I could buy Shell gas for $2.34.

john in SC