The 1970s in the UK were marked by a mix of economic growth and inflation. Here are some key price points from that decade, reflecting the economic conditions of the time, with inflation being a significant factor in the cost of living. The figures are not absolutes, but averaged over those from a number of different sources. The given price of petrol is based on £1.22 per lire. Today’s price is £1.55/litre, £7.05/gallon.
Despite the rising prices, there was a slight improvement in living standards compared to the 1960s.
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