0
The Australian Bureau of Statistics measures changes over time in the price of a theoretical ‘basket’ of goods and services which account for a high proportion of expenditure by metropolitan households. This ‘basket’ covers a wide range of goods and services arranged in eleven groups, including food. These data are collated into 'The Consumer Price Index' (CPI) released every three months.
In the period 1960-1969 the average CPI was 15.1
In the latest period for which data are available (as at the time of writing, March quarter 2007) the CPI was 155.6
So the 'cost of living' as measured by the Australian CPI has increased by about 930% from the 1960s to now. This means that $100 in today's currency had the same purchasing power as about $10.75 in the 1960s.
That is, the cost of goods and services (including food) in Australia in the 1960s was, roughly speaking, 1/10th what it is now. But bear in mind that's in relation to everything else such as wages and economic conditions at that time.
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
What is mathmatic formula for food cost calculation?
Cost Of Food __________ Food Sales Cost of Food Divided by Food sales will give you a decimal amount which you can then convert to a percentage. example: $25,780 Cost of Food Divided by $64,575 Food Sales= .399225 or 39.9% then rounded to 40%
What is formula of food cost calculation?
Cost of goods less inventory divided by Gross Food Sales
What is the formula used to determine food cost?
Food Cost refers to two concepts and has two basic formulas:1) Plate Cost= total cost of a menu item / sales priceThis is the cost of a menu item including all the ingredients served with the dish divided by the sales price before tax. This is a theoretical food cost used to forecast your budget and determine what price to sell items at.2) Period End Food Cost = (beginning food inventory + food purchases - food credits - ending food inventory) / sales priceThis is the actual food cost for the restaurant for any given period of time (monthly, weekly, etc.) This is an actual food cost which will include "hidden" costs such as waste, theft, over-portioning and a host of other issues which can affect a restaurant's food cost.For more information, visit the Related Links.
How is math used in US food service?
recipe formulation and calculation service determintion dealing with head counts, food portioning, food cost,menu planning and cost projections there of, inventory establishment,
How do you compute a weighted average percentage Example I sold 125 items A with a food cost of 25 and I sold 50 items B with a foos cost of 40 What is my weighted food cost?
(125*25 + 50*40)/(125 + 50) = 5125/175 = 29.3 (approx).
How much did petrol cost in Australia in 1960s?
a million bucks kid
Cost of jif peanut butter in 1960s?
in the 1960s there was no peanutbutter
What did a block of cheese cost in the 1960s?
2 pounds of cheese coast about $4 in the 1960s
How much did matches cost in 1960s?
$.22
How much did clothing cost in 1960s?
rs50
Most popular music artists in Australia in the 1960s?
psychedelic rock
How much did a football cost in the 1960s?
about 10 bob
1960s how much did a house cost?
1$
How much did a waffle iron cost in the 1960s?
$20.00
How much do pigs cost in Australia?
the cost about $5 in Australia
How much did loaf of bread cost in the 1960s?
69 centss..
How much did a Pontiac firebird cost in 1969?
it cost 4,336 in 1960s i kno this because of jessica...!
