Infographic Category Finance

The Cost Of Living Increase Over 60 Years

By | source:Here Aug 17th, 2020

You might have heard someone from an older generation talk about how cheap things were when they were younger. Compared to now, this is very true. Over the past 60 years, the cost of living has been on a steady incline due to many factors. From the cost of a tank of gas, to a pint of beer, everything one could purchase has increased in price.

We don’t notice it so much in our daily lives, everything we pay for is slowly climbing to be more and more expensive with every year that passes. Things like rent have skyrocketed over the past few decades. From 1960 to 2000, the cost of rent has had an increase by 750%, when we take inflation into account it sits at a 46% increase.

Another huge increase is the cost of university tuition. Students at private and public institutions have seen a 129% and 213% increase respectively over the past three decades when it comes to paying for school.

While we don’t always see many of these increases in our day to day lives because our wages have also gone up, many people still face the effects when it comes to housing and school because of the huge incline in pricing.