It can be easy to gripe about millennials, but the truth is that in some ways millennials face a harder life than their parents did — largely because they’re confronted with different financial struggles and increasing expenses.
While millennials have benefited from a 67% rise in wages since 1970, this increase hasn’t kept up with inflating living costs — rent, home prices, and college tuition have all increased faster than incomes in the US, reveals research conducted by Student Loan Hero.
However, not all costs have soared.
While the cost of some consumer goods has risen, it’s mostly remained stable and has even plummeted for some goods, such as computers, televisions, and other electronics.
Surprisingly, gas is also cheaper. One gallon of regular unleaded gas was 60 cents in 1976; adjusted for inflation, it was $2.65 a gallon, reports Student Loan Hero. In 2016, it was just $1.96 a gallon.