Inflated Prices facts

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The cost of college textbooks in the US have risen more than 1,000 percent since 1977, even faster than tuition, health care costs and housing prices, all of which have risen faster than inflation.

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College textbook prices have risen 1,041% since 1977 - more than three times inflation as a whole

What are inflated prices?

In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across. Here are 50 of the best facts about Inflated Prices I managed to collect.

what does inflated prices mean?

1. All the McDonalds in Argentina were forced to sell the Big Mac at an artificially low price to hide inflation, and to manipulate the country's performance on the Big Mac index

2. The Queen can de-knight someone, one of the last people to be de-knighted was a financier who participated in a scheme to inflate the share price of Guinness.

3. The real-life home that inspired the movie 'UP' is a century-old farmhouse whose owner refused to sell it to developers, even for an inflated price of $1,000,000. Having lived there for over 50 years, she was content to let them build a giant biotech complex all around it.

4. When adjusting for ticket price inflation Gone With The Wind is the all time biggest earning film in the US, grossing $1.6 billion domestically which is over twice as much as Avatar earned.

5. Residents in Mosinee, Wisconsin held a mock Communist invasion which had concentration camps, a purged library, and inflated prices. The mayor, seemingly unaware of the plan, died due to the excitement.

6. The Queen can de-knight someone, the last person de-knighted was a financier who participated in a scheme to inflate the share price of Guinness

7. When Mansa Musa (richest person in history) went through Cairo, Medina and Mecca in order to perform pilgrimage, he distributed so much gold and gifts that it caused super inflation. Prices of goods skyrocketed so much that even after 12 years the markets still didnt fully recover.

8. 30,000 in 1964 is equivalent in purchasing power to about $248,476.45 in 2019, a difference of $218,476.45 over 54 years. The 1964 inflation rate was 1.31%. According to the Bureau of Labor Statistics consumer price index, today's prices in 2019 are 728.25% higher than average prices in 1964

9. Fearing that several Yakuza groups planned to hijack the Super Famicom shipment, to sell on at artificially inflated prices, Nintendo commenced "Operation Midnight Shipping" in which the entire batch of 300,000 machines were hauled across Japan in the very early hours of the day of launch.

10. Toronto subway token fare prices have risen faster than inflation since 1990. While the consumer price index has risen at an annualized rate of 1.8% in Canada, TTC fares have increased at 4.5%. A investment in tokens would have been more profitable than to deposit money in a savings account

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Why are house prices so inflated?

You can easily fact check why are hospital prices inflated by examining the linked well-known sources.

This scarcity inflates its price, and so it has very little commercial or industrial uses.

Inflation was so bad in Germany after WWI, the price of a loaf of bread went from 250 marks to 200 trillion marks in just 11 months - source

In 1895 J.P. Morgan bailed out the American government, giving the treasury over 218,750 Pounds of gold. In today's gold prices, adjusted for inflation. That's about 120 billion dollars. - source

In mid-November 2008, the rate of inflation for the Zimbabwean dollar peaked at 89,700,000,000,000,000,000,000%, at which prices were doubling every 24.7 hours.

The Roman Empire once had price and wage controls for practically every good and service, with capital punishment for profiteers. The system only lasted a few years and did not stop Rome's soaring inflation. - source

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Arab traders in the 13th century created myth that pepper was cultivated in India “guarded” by serpents to maintain their monopoly, keep their source a secret and inflate its price

How inflated are home prices?

In Muslim countries the economy is impacted because of the fasting. It usually results in a month of inflation; prices go up.

The chargemaster, a comprehensive listing of items billable to a hospital patient or a patient's health insurance provider. In practice, it usually contains highly inflated prices at several times that of actual costs to the hospital.

When FDR ordered the public to turn in their gold for $20.67 p/oz, the government took in 300 million gold coin and 470 million in gold certificates. The government then placed the price of gold at $35 p/oz allowing the reserves to inflate the money supply.

Used cars in America are so much more expensive than other countries, because once reliable companies, like Kelly Blue Book, were bought out by companies that sold used cars and they inflated the prices

The Atari 2600 Video Computer System was first released on 9/11/1977 with a launch price of $199 ($823 when adjusted for inflation) the package included the game "Combat" and two controllers, with eight other games available (purchased separately). Approx 350,000 units sold in the first year.

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