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Since this membership
application for the Academy of Model Aeronautics (AMA) brings up the subject of
inflation, I figured it would be interesting to find out what the inflation rate
was in 1949 when it appeared in Air Trails magazine. According to the
CPI Inflation Calculator, the rate in 1949 was actually negative (-1.2%) due to
a multi-year economic
recession triggered by President Truman's "Fair Deal";
however, in the previous year
(1948)
it was a whopping 8.1%, and the year before that (1947)
it was an incredible 14.4%!!! So, massive inflation was definitely still on the
minds of Americans at the time. The current inflation rate (March
2022) is sitting at 8.5%, with no sign of things getting any better. In
fact, economists say if the inflation rate was calculated the way it was in
1949, it would be in the 15% realm. According to the
BLS Inflation
Calculator, what would have cost you $1.00 in September 1949 will cost you
$12.03 in March of 2022. That's 1,203% inflation in about 73 years, which
averages to about 1.102% per year (1.102^73 = 1,200). Clearly, we are currently
in a period of significant inflation, but that's what we get when the government
prints money like mad and dilutes the value of every dollar in your pocket!
Academy of Model Aeronautics License & Membership Ad
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Your 1949 AMA License and Membership Now Includes
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Here is One Way to Fly with the Experts
Mail this coupon today!
Posted April 23, 2022
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