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Mike Mellor's avatar

My rule of thumb method for calculating price inflation is take the historical price and multiply it by the number of intervening years. In the case of prices remembered from childhood (I was born in 1951), it is often astonishingly close.

Many modern products are far better quality, yes. I'm thinking 1965 Austin Mini versus 2026 BMW Mini. I'm also thinking 1965 loaf of bread versus 2026 loaf of bread.

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