Article: Gas Prices And The Impact Of Inflation
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Gas Prices And The Impact Of Inflation
Year---Item-------------------Price---Rate of Inflation
03/80--Gasoline (per gallon)--1.252
03/05--Gasoline (per gallon)--2.065---2.02%
03/80--Bread, white, per lb---0.502
03/05--Bread, white, per lb---1.002---2.80%
03/80--Consumer Price Index---80.10
03/05--Consumer Price Index---193.30---3.59%
Source: U.S. Department of Labor - Bureau of Labor Statistics (www.bls.gov)
What is Inflation?
Inflation is an indication of the rising cost of goods and services in the economy. For example, a gallon of regular unleaded gasoline was 1.252 in March of 1980. Comparatively, that same gallon was priced at 2.065 in March of 2005. Therefore, over the last 25 years, the cost of a gallon of gas has increased at ...
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