Rabbit Trail: Price of a Dog (or Two)
Estimated Time: 5 minutes
Billy finds a magazine that advertises dogs for $25 a piece. He really wants to order two dogs. Fifty dollars may not seem like a lot today, but in 1933 it was. Check out the calculator below to find out how much that would be in today's money.
According to the Bureau of Labor Statistics consumer price index, today's prices in 2020 are 1,876.72% higher than average prices since 1933. The U.S. dollar experienced an average inflation rate of 3.49% per year during this period, meaning the real value of a dollar decreased.
Would you consider raising that much money to buy something you really wanted? Have you ever tried to save that large of a sum of money?