2012 marks AHAM’s 45th anniversary— and a lot has changed since 1967! In 45 years, the appliance industry has grown to a $30 billion industry, shipping more than 200 million home appliances per year! Watch Leading the Way a retrospective on our proud history and how AHAM will lead into the future.
1967 was also the year that the Amana Radarange, the first major introduction of a microwave oven, went on sale for sale for $495, or about $2,000 in today’s dollars. The House Beautiful and Retro Renovation have slideshows of typical American kitchens from the 1960s. Talk about Memory Lane!
How much things cost in 1967
Yearly Inflation Rate USA 2.78%
Year End Close Dow Jones Industrial Average 905
Average Cost of new house $14,250.00
Average Income per year $7,300.00
Average Monthly Rent $125.00
Gas per Gallon 33 cents
Average Cost of a new car $2,750.00
Movie Ticket $1.25
The Federal Minimum Wage is increased to $1.40 an hour
Headlines from 1967
- Jimmy Hoffa begins an 8 year prison term for defrauding the union and jury tampering
- The 25th Amendment to the constitution is ratified which deals with succession to the Presidency
- Thurgood Marshall becomes the first black justice on the Supreme Court.
- Muhammad Ali is stripped of his heavyweight title for refusing induction into US army
- President Johnson asks for a 6 percent increase on taxes to support the Vietnam War
- Ten of thousands of Vietnam War protesters march in Washington, D.C.
- World’s First Heart Transplant operation in South Africa by Dr. Christiaan N Barnard
- The Concorde is seen for the first time in public.
- The first ATM ( Automatic Teller Machine ) is put into service in Barclays Bank in London