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An automobile for $27,090; a hamburger costing $4.38—this is not the budget of the richest family in town, but of an ordinary middleclass American in the year 2000 if inflation continues at a seven percent level.
Recent Bureau of Labor Statistics information indicated prices went up 1.1 percent in a recent month or at a 13.2 percent annual level. What if inflation continues to gain, perhaps not at a 13.2 percent level, but a 7 percent level until the year 2000? There will be some dramatic changes in household coats and a resulting change in lifestyles. Here are drastic estimates of what living might be like in just 20 years. They are calculated at a seven percent continuous level of inflation.
Automobile Average new home Sunday paper Ground beef Candy bar Bread, small loaf Gasoline Coffee, instant (10 oz.) Lettuce (head! Bar of soap
It is questionable that all product prices would rise at the rate of seven percent continuously, even if the cost of living did rise at that rate. Not all households' incomes
83.6%