George Michael
Prices in 1988 vs. today
“In today's money” adjusts the 1988 price for inflation (CPI-U, Sep 2026). If today's price is higher than that, the item really did get more expensive, not just the dollar.
| Item | 1988 | Today |
|---|---|---|
| 🏠 Median price of a house soldmedian sale price | $112,200 | $393,300 +251% |
| ⛽ Gallon of regular gasper gallon | 95¢ | $4.48 +374% |
| 🥛 Half-gallon of whole milkper half-gallon | $1.16 | $2.05 +76% |
| 🥚 Dozen large eggsper dozen | 79¢ | $2.27 +188% |
| 🍞 Loaf of white breadper pound | 61¢ | $1.83 +199% |
| ☕ Pound of ground coffeeper pound | $2.77 | $9.33 +237% |
| ✉️ First-class postage stampper letter | 25¢ | 82¢ +228% |
| 💡 Kilowatt-hour of home electricityper kWh, residential | 7.5¢ | 18.3¢ +144% |
| ⏱️ Federal minimum wageper hour | $3.35 | $7.25 +116% |
| 🧰 Average factory worker's hourly payper hour, manufacturing production workers | $10.05 | $30.21 +201% |
| 👪 Median family incomeper year | $32,200 | $110,500 +243% |
| 🍔 Pound of ground beefper pound | $1.36 | $6.79 +398% |
| 🥓 Pound of baconper pound | $1.88 | $6.76 +259% |
| 🍗 Pound of whole chickenper pound | 85¢ | $2.06 +142% |
| 🧀 Pound of cheddar cheeseper pound | $3.17 | $6.13 +94% |
| 🍌 Pound of bananasper pound | 42¢ | 66¢ +57% |
| 🍅 Pound of tomatoesper pound | 83¢ | $1.99 +139% |
| 🍬 Pound of white sugarper pound | 37¢ | $1.02 +178% |
| 🌾 Pound of flourper pound | 21¢ | 55¢ +155% |
1988 at a glance
Questions people ask about 1988
How much was a gallon of gas in 1988?
Regular gasoline averaged 95¢ a gallon in 1988 (U.S. city average, including taxes). That's about $2.70 in today's money. In Sep 2026 it averaged $4.48.
How much was a postage stamp in 1988?
A first-class stamp cost 25¢ in 1988. Today it costs 82¢.
How much did a house cost in 1988?
The median price of a house sold in the U.S. in 1988 was $112,200, about $319,680 adjusted for inflation. The latest median (Q3 2026) is $393,300.
What was the minimum wage in 1988?
The federal minimum wage was $3.35 an hour in 1988, worth about $9.54 an hour today. It has been $7.25 since July 2009.
How much was milk in 1988?
A half-gallon of whole milk averaged $1.16 in 1988. Today: $2.05.
How much were eggs in 1988?
A dozen large Grade A eggs averaged 79¢ in 1988. Today: $2.27.
What was the #1 song of 1988?
Billboard's top song of 1988 was “Faith” by George Michael.
How much is $1 from 1988 worth today?
$1 in 1988 buys about as much as $2.85 did in Sep 2026, based on the Consumer Price Index (CPI-U).
Sources: U.S. Census Bureau & HUD, Median Sales Price of Houses Sold; U.S. Energy Information Administration (regular gasoline, U.S. city average retail price incl. taxes; leaded until 1975, unleaded from 1976); U.S. Bureau of Labor Statistics, Average Price Data (U.S. city average); U.S. Postal Service rate history (rate in effect July 1); U.S. Energy Information Administration (average residential price incl. taxes); U.S. Department of Labor (rate in effect July 1); U.S. Bureau of Labor Statistics, Current Employment Statistics; U.S. Census Bureau, Current Population Survey; Billboard Year-End Hot 100. How we calculate these.
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