Trust an economist? Not me. Inflation was under control by 1987.
Using the Reserve Bank inflation calculator a loaf of bread cost 18 pence in 1960 which is $1.94 in 2011. I expect you could buy a loaf of bread for that price in 2011, maybe even now at one of the cheap Asian bakeries.
I've used this clipping from the newspaper before but it is interesting to revisit more than thirty years later. Of course these are Australian dollar figures but to make it a bit more interesting, I will add the world wide currency (so the BBC told me when I complained about it not using £ when talking about England).
In the year 2020, two adult movie tickets cost around $40. US$27
Scotch? Good is very subjective but perhaps $35, single malt, $50. US$24 to US$34
Just an educated guess, but two weeks in Fiji including flights and very nice accommodation might cost for two about $7,000. US$4,700
We eat good quality bread and it costs less than $4. US$2.70
Car insurance? Ours is not bad because we have been with the same company for a long time and we are rated well, $725. US$488
Tweed sports jacket? Perhaps not great quality but perhaps $150. US$100