Tampa Bay Informer - Pinellas Community
Monday, 14 April 2008 19:46

The Inflation Blues

An unpredictable economy drives people to invest wisely

By Robert Harwood
Heritage Tax & Retirement Advisors, LLC

LARGO, FL – It’s hard to talk about inflation without sounding like an old geezer: “I remember back in 1940 when gas was only 18 cents a gallon!” But this is 2008 and times have dramatically changed. Less than five years ago we can remember the price of gas was below $2 per gallon. 

According to the U.S. Department of Commerce and a statistical abstract of the United States, in 1940, a loaf of bread cost 8 cents and a first class postage stamp cost 3 cents. By 1970, those prices had inflated to 24 cents per loaf and 6 cents per stamp. By 2002, inflation had pushed those prices to $2.99 per loaf and 37 cents per stamp. Today, the average loaf is $3 per loaf and stamps will be 42 cents this May. 

Published in Pinellas County

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