So, in my last post I spoke some about the minimum wage and the buying power associated with it. I used a concept shown to my by Mark Perry. That is, comparing the cost of goods from 50 years ago to that price today. I added a little twist and included the price of that good had it too kept up with inflation.
I thought it would be interesting to do the same thing with the cost of government controlled goods. Like a postage stamp.
Cost of a stamp in 1958: $0.04
Inflation Price: $0.30
Real Price Today: $0.44
So, while the price of products today is going down relative to it’s 1958 inflation price, the cost of postage is going up. By almost 50%.