INFLATION FROM 1960S THROUGH 1980S.
Causes, effects & trends, focusing on Reagan years & impact of his policies on drop in inflation.
Inflation, the tendency of prices to increase from year to year (or, to put the same thing in different terms, the steadily declining purchasing power... more
Inflation, the tendency of prices to increase from year to year (or, to put the same thing in different terms, the steadily declining purchasing power of the dollar) has for some years been a preoccupation of Americans, in their daily lives and in public policy. Middle-aged Americans can remember a time when a family of four could eat out for ten dollars, and a new car could be bought for $2500. In general, consumer prices when John F. Kennedy was President stood at little more than one-fifth their present-day level.
After some years of near stability in the 1950s and early to mid 1960s, prices began to increase in the later 1960s. By the end of the 1970s, prices were increasing by ten percent or more each year. For consumers, it seemed that every trip to the grocery store meant paying more for the same products. Wage and