The great jump in inflation has been during the past 10 years. Looking at the raw figures, people might consider this a time of prosperity. The wage of the average worker was $ 114 a week in 1969, and by September, 1978 it had reached $206. The number grew as much as $92. On the surface it might seem that people are better off, but it is not true. Taking into consideration the effects of inflation, the picture is different. Actually, inflation plays an important role.
In 1976 the consumer price index stood at 100 and it has now topped 200. Allowing for this, the average wage of workers was $104 in 1969 and $105 in April 1978. Since then with more inflation any gain in purchasing power has been wiped out and more taken away. In fact during the year of 1978, the buying power of the average paycheck had fallen by 3.4 percent. In addition to the income tax, there are usually state and country taxes, the sales tax, that is added to the cost of an item at the retail level. This is another tax that has been increasing with inflation, and it affects all purchasers, including the poorest citizens. Think twice before you say that inflation is not a big deal.
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A. It first become serious about five years ago.
B. It has finally been brought under control.
C. It may lead to prosperity.
D. It has been climbing.