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Because of the erosion in the value of the dollar, the average Rappahannock County family finds that it takes nearly $5 now to buy the same amount of goods and services that could have been obtained for $4 in 1966.
Specifically, for the family that had an income of $5,000 four years ago, approximately $6,080 would be required today. Those that had $6,500 available to them at that time need $7,900 now.
Families that were in the $7,500 bracket have to have $9,100 currently and those at the $10,000 level, nearly $12,200.
As a result, for the unemployed and for those who are living on fixed incomes, the going is especially rough.
Although many people feel that the higher price of food is causing them tthe most trouble, that is not borne out by the facts, according to the Department of Labor. Its studies show that taxes have been rising faster than any other item in the average budget. Medical care and other services are not far behind.
The upward thrust in the cost of living has affected consumer prices across the board in every area of the country.
An indication of it, in Rappahannock County, is the amount of money that-was spent in local retail stores last year, per family, and the amount that was spent four years before.
It came to $3,019 per family in the past year as compared with $2,600, which the same amount of goods would have cost four years previously.
94.0%