Original post WW1 era postcard of inflation affecting the cost of living, "They say two can live as cheaply as one. Can they! You Wait till your twopenny pie costs fourpence". Circa 1919, 1920.
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thislife pictures / Alamy Stock PhotoImage ID:
2JGCT1HFile size:
89.8 MB (3.1 MB Compressed download)Releases:
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4550 x 6902 px | 38.5 x 58.4 cm | 15.2 x 23 inches | 300dpiLocation:
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ThislifeThenMore information:
This image could have imperfections as it’s either historical or reportage.
When WW1 ended, government agencies removed their controls on the economy. This released pent up demand. People raced to buy goods that had been rationed, while businesses rapidly raised prices they had been forced to keep low during the war. The result was rapid inflation. The economy and the First World War Following the First World War the economy suffered from loss of productive resources, capacity and change in the structure of international trade and finance. There was mass unemployment among demobilised servicemen and widespread strikes took place. Britain had left the gold standard in 1914 and responded by increasing the supply of money to stimulate the economy. Production was limited due to substantial decreases in working hours agreed at the end of the war. In 1919 increased consumer demand caused inflation and a price boom. The National Archives.