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Calamity of economic boom in the rising dollar era
AP Business Analyst John Cunniffe outlines the sustained rise of the consumer price index and a sharp erosion of purchasing power through the 1960s. He notes that a typical worker’s weekly purchasing power fell from 78.47 to 78.23 dollars year over year, with meat and tax costs driving higher living expenses while the dollar’s value slid from 100 cents in 1960 to 83.4 cents by mid-1969. The piece frames inflation within the Vietnam-era spending surge and concludes the dollar remains widely valued abroad despite declines.
MENTIONED IN THIS ARTICLE
John Cunniffe
NEW York (Ap
Labor Department