In 1989, my parents got my first car for me… A 1988 Ford Festiva in charcoal... I'm pretty sure our deal was $5500 for the car. Later that year, I got my first "real" keyboard... the Korg M1. I got that for $1600. I guess it's keeping up with inflation 28 years later.
U.S. Inflation Rate, 1989-2017 ($1,600)
According to the Bureau of Labor Statistics, the dollar experienced an average inflation rate of 2.46% per year. Prices in 2017 are 97.4% higher than prices in 1989.
In other words, $1,600 in the year 1989 is equivalent to $3,158.53 in 2017, a difference of $1,558.53 over 28 years.
http://www.in2013dollars.com/1989-dollars-in-2017?amount=1600Regards,
Jerryghr
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