1971 brought the change of decimalization and this had an enormous impact on both society and the British economy. But the most marked changing point of the time was Britain's inclusion into the European Common Market.

Food & Drink Revolution -

The 1970s marked a new era of Europeanism. Despite the radical changes that occurred in the first half of the decade, compared with the 1950s, Brits were much better fed and able to afford food from a wider selection. We were also becoming better traveled gaining a taste for foreign cuisine. This led an increase of French and Italian restaurants as well as Spanish and Greek.

Drinking habits also changed with a move to fine wines away from champagne and claret, which also started to be sold in pubs.

The State of Affairs -

More women were going out to work. Standards of living were increasing: 90% of houses now had refrigerators; ¾ owned a telephone and 60% of people bought a home. According to government figures, the spending power of an average family had increased by 50% since 1951 with 6/10 families owning a car. 1/10 took holidays abroad with 1/5 taking up to 2 holidays a year and nearly every home had a TV and fridge.

A Wealthier Britain -

Compared with the 1950s the average man had to work only 7 minutes to be able afford a white loaf of bread against 10 years before and only 4 minutes for a pint of milk compared with 5 in by 1971.

Summary - Change in the Cost of Living (Retail Prices Index)-

Compared with 50 years ago, we are twice as well off now due to a huge rise in productivity and technological advances, enabling us to spend more money on luxuries and material goods. According to figures provided by the National Office of Statistics, after tax the spending power of an average family has doubled from £190 per week in 1953 to £409 per week.

More money was spent on food and non-alcoholic drinks in 1950 compared to one-sixth now. Presently we spend more on non-essential leisure goods such as holidays and DVDs, with ownership of consumer goods far less common than today.

Only one in six households had regular use of a car in 1952, compared with one in seven today.

You just need to take one look at the Retail Prices Index of 1952 to see how much priorities and the cost of living have changed.

Back to 1952-1977.