REAL MONEY BACK IN THE DAY. On occasion I refer to a price from the past, and put in a qualifier noting that this was “real money”. It is worth lingering over that multiplier of approximately 8 which can be used to make the price for Carry Back from about 50 years ago comparable to today’s prices.
Kids, you can see that inflation causes the loss of pricing information. Comparisons of prices are harder even when only a gap of a few years is involved (“sticker shock” is shorthand for this problem).
Also note that the site gives an estimate of 3.96% for average annual inflation between 1961 and 2014. This may surprise people who lived through the periods in the 1980s when inflation reached the high double digits.