In 1972 all these products could have been bought for $4.58. By 1975 the same goods cost $6.56. The rise in numerical value from $4.58 to $6.56 was purely a price change. Inflation also leads to higher wages and salaries, so the actual cost to the consumer may not have changed much at all. The high inflation of the 1970s and 1980s resulted in vaulting price increases, but in volume terms growth in the gross domestic product (GDP) was small.
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