Inflation and historical cost of paperbacks

Fbone · 10-15-2010, 08:07 PM

We hear and read many posts of the high costs of books. I thought I'd play with the inflation calculator at the BLS to see what has happened to the costs of paperbacks in relation to inflation [in the US.]

Unfortunately, I dont have enough data but this is what I found. [Updated with added data]

Using two science fiction mass market paperback books one printed in 1960 and the other 1980 these are the results.

1960 book costing $0.35 then would cost $2.58 in 2010 and $0.97 in 1980
1962 book costing $0.50 then would cost $3.62 in 2010 and $1.36 in 1980
1962 book costing $0.75 then would cost $5.42 in 2010 and $2.05 in 1980
1967 book costing $0.40 then would cost $2.62 in 2010 and $0.99 in 1980
1970 book costing $0.60 then would cost $3.38 in 2010 and $1.27 in 1980
1971 book costing $0.75 then would cost $4.05 in 2010 and $1.53 in 1980
1972 book costing $0.95 then would cost $4.96 in 2010 and $1.87 in 1980
1972 book costing $1.25 then would cost $6.53 in 2010 and $2.46 in 1980
1975 book costing $1.25 then would cost $5.08 in 2010 and $1.91 in 1980
1976 book costing $1.75 then would cost $6.72 in 2010 and $2.53 in 1980
1977 book costing $1.95 then would cost $7.03 in 2010
1977 book costing $2.50 then would cost $9.02 in 2010 and $3.40 in 1980
1979 book costing $1.95 then would cost $5.87 in 2010
1979 book costing $2.25 then would cost $6.77 in 2010
1980 book costing $2.95 then would cost $7.82 in 2010
1983 book costing $3.95 then would cost $8.66 in 2010
1984 book costing $2.75 then would cost $5.78 in 2010
1987 book costing $4.95 then would cost $9.52 in 2010

Both of these books would probably sell for $7.99 today.

So we can see from 1980 MMP prices have risen close to inflation.
But something happened between 1960 and 1980 causing sharp increase of ($0.97 to $2.95) almost triple rate of inflation.
It appears that something happened end of the 1970s to dramatically increase prices. They double in a few years and inflation doesnt account for all of it.

Please, if anyone has a paperback printed before 1980, could you post the date and cover price and I'll add to the list to see where prices went crazy. I suspect the publishing industry had a dramatic change in the 1970s.

Thanks.

Inflation rates from 1977-82
1977 = 6.5%
1978 = 7.6%
1979 = 11.3%
1980 = 13.5%
1981 = 10.3%
1982 = 6.2%

cfrizz · 10-15-2010, 10:34 PM

I purchased a book 441 pgs in 1977 & paid $2.50 for it. That same book can be purchased today from Amazon will cost you $7.99.

The 2nd book in the series 455 pgs purchased in 1979 was also $2.50. That same book can be purchased today from Amazon will cost you $6.99.

The 3rd book in the series 393 pgs purchased in 1980 was also $2.50. That same book can be purchased today from Amazon will cost you $7.99.

Hope this helps.

Ravensknight · 10-15-2010, 10:58 PM

Wayfarer, by Dennis Schmidt, was printed in '78 and covercost was 1.95 Kensho, its sequel, was printed at the end of '79. covercost was 1.95.

When Worlds Collide by Wylie and Balmer, was reprinted in '62 and covercost is 0.50. After Worlds Collide, sequel, was reprinted in '68 and it also had a covercost of 0.50.

all books are mmp.

shootingMaNs · 10-15-2010, 11:26 PM

I've got a few.

Spock Must Die! by James Blish- 1976- $1.25
Lords of Atlantis by Wallace West- 1963- $.40
Armageddon 2419 A.D. by Philip Nowlan- 1978- $1.95
Spock, Messiah! by Theodore Cogswell and Charles Spano- 1976- $1.75

Spock Must Die! is a really short book(118 pages), which might explain why it's $.50 cheaper than Spock, Messiah!

dreams · 10-16-2010, 12:30 AM

1962 128 pages 0.40 USD The Lilies of the Field by Wm E Barrett

1962 157 pages 0.75 USD Black Like Me by John Howard Griffin

1966 120 pages 0.60 USD The Red Pony by J Steinbeck

1967 144 pages 0.40 USD Casino Royal by Ian Fleming

1971 320 pages 3.95 USD Ordeal By Hunger by George R Stewart

1971 118 pages 0.75 USD Of Mice and Men by J Steinbeck

1975 213 pages 1.25 USD The Man Who Would Be King by R Kipling

It was interesting looking for this information. I have many that do not list when the printing was done, just the copyright and the printing edition.

recluse · 10-16-2010, 01:42 AM

"The Confidence Man" by Herman Melville/276 pgs. 1964=$.60
"Night-World" by Robert Bloch/176 pgs. 1972=$.95
"Death Wish" by Brian Garfield/223 pgs. 1972=$1.25
"The House On The Borderland" by William H. Hodgson/186 pgs. 1977=$1.50
"The Apparition" by George Bishop/211 pgs. 1979=$2.25
"The Ninth Configuration" by William Peter Blatty/146 pgs. 1980=$2.25

crich70 · 10-16-2010, 02:48 AM

Well I bought a used copy of "The circus of Dr. Lao" yesterday. It was originally copyrighted in 1935 (I don't know what price it was back then). My copy was copyrighted for 1983 (through Vintage) and sold for $3.95 (I paid 4.00 plus tax). Today on Amazon the same book runs $12.78 for a new copy. It was marked down from $14.95 so there is quite a rise in price. The book has 119 pages of story (with catalogue of characters etc). So it's a short book.
My copy of Dune also cost $3.95 in the early 80's. A 40th Ani. edition costs $11.56 but was marked down from $17.00 so paperback books have certainly risen in price.

bgalbrecht · 10-16-2010, 03:22 AM

One of the things that happened in 1979 was that there was a Supreme Court ruling concerning the tax consequences of inventories which caused publishers to decrease print runs and pulp inventories before the end of their fiscal tax years. However, I think that's after the prices had already started jumping.

http://www.sfwa.org/bulletin/articles/thor.htm

Fbone · 10-16-2010, 04:40 AM

Quote:

Originally Posted by bgalbrecht

One of the things that happened in 1979 was that there was a Supreme Court ruling concerning the tax consequences of inventories which caused publishers to decrease print runs and pulp inventories before the end of their fiscal tax years. However, I think that's after the prices had already started jumping.

http://www.sfwa.org/bulletin/articles/thor.htm

Very interesting. The cost of something increased. Or anticipated cost.

Thanks for everyone who dug up their oldies and posted.

theducks · 10-16-2010, 01:25 PM

I suspect our environmental laws affected the ingredients for printing books.
Inks that I used in high school print sop are totally banned.
Paper costs.
Freight at all stages.
charge cards (you don't really think those fees are paid by the merchant in the end

)

OTOH
Direct to plate technology helped keep pre-press costs down. (remember "Ortho " film

, Vari-Typer (tm), Linotype(tm) )

graycyn · 10-16-2010, 04:27 PM

Sinbad and Me by Kin Platt - 1970 paperback 60 cents.
Rissa Kerguelen by F.M. Busby - 1977 paperback $1.95
Zelde M'Tana by F.M. Busby - 1980 paperback $1.95
The Alien Debt by F.M. Busby - 1984 paperback $2.75
Rebels' Seed by F.M. Busby - 1986 paperback $2.95
The Rebel Dynasty by F.M Busby - 1987 paperback $4.95

That's all my old stuff... without raiding hubby's stash.

HarryT · 10-16-2010, 04:29 PM

What do we learn from these data? Have paperbacks risen or fallen in price in real terms?

Fbone · 10-16-2010, 05:08 PM

Quote:

Originally Posted by HarryT

What do we learn from these data? Have paperbacks risen or fallen in price in real terms?

Depends on your starting point.

If you start from 1960s to early 1970s, then paperbacks have risen significantly in real terms. They should cost us around $1.75 today but are priced at $7.99 and above.

From the early 1980s prices have increased close to inflation and are relatively inexpensive. Factor in the 30-40% discounts and paperbacks are undervalued. I don't remember such large discounts back in the 70s.

Prices increased suddenly late 70s to early 80s and while inflation was high it doesnt account for all the added increases. Some suggestions have been posted as to why.

For the senior population books will seem expensive. The younger generation (say age 50 and under) books will appear reasonably priced. Considering inflation has been low these last few years this is even more apparent.

Fbone · 10-16-2010, 05:19 PM

In the US we currently have low inflation and this is not expected to last. Inflation will increase in the years ahead. If we compare what happened from 1977-82 to the present and near future, this is what would happen:

2010 ... $7.99 book will cost $12.72 in 2015 (almost $1.00/yr increase)
$14.98 in 2020
$21.16 in 2030
$27.34 in 2040

Kali Yuga · 10-17-2010, 09:13 PM

I'd guess that it will be nearly impossible to isolate what factors affected the price of one specific product of one specific product over such a long period of time.

Also, keep in mind a few key facts about the inflation rate calculations:
• The current CPI only started being used ~1975. Previous measures used a different methodology.
• Few products will track exactly to the rate of inflation over a 50 year period.
• Typical prices on a book's cover are not necessarily the same as the true average price of a good.

Perhaps if you spent a few weeks researching book prices, the costs of the various constituent commodities, the changes in the various publishing and distribution structures, the influence of early chain stores and so forth, maybe you'd get a better conjecture. Or not.

10-15-2010, 08:07 PM	#1
Fbone Is that a sandwich? Posts: 8,235 Karma: 101696762 Join Date: Jun 2010 Device: Nook Glowlight Plus	Inflation and historical cost of paperbacks We hear and read many posts of the high costs of books. I thought I'd play with the inflation calculator at the BLS to see what has happened to the costs of paperbacks in relation to inflation [in the US.] Unfortunately, I dont have enough data but this is what I found. [Updated with added data] Using two science fiction mass market paperback books one printed in 1960 and the other 1980 these are the results. 1960 book costing $0.35 then would cost $2.58 in 2010 and $0.97 in 1980 1962 book costing $0.50 then would cost $3.62 in 2010 and $1.36 in 1980 1962 book costing $0.75 then would cost $5.42 in 2010 and $2.05 in 1980 1967 book costing $0.40 then would cost $2.62 in 2010 and $0.99 in 1980 1970 book costing $0.60 then would cost $3.38 in 2010 and $1.27 in 1980 1971 book costing $0.75 then would cost $4.05 in 2010 and $1.53 in 1980 1972 book costing $0.95 then would cost $4.96 in 2010 and $1.87 in 1980 1972 book costing $1.25 then would cost $6.53 in 2010 and $2.46 in 1980 1975 book costing $1.25 then would cost $5.08 in 2010 and $1.91 in 1980 1976 book costing $1.75 then would cost $6.72 in 2010 and $2.53 in 1980 1977 book costing $1.95 then would cost $7.03 in 2010 1977 book costing $2.50 then would cost $9.02 in 2010 and $3.40 in 1980 1979 book costing $1.95 then would cost $5.87 in 2010 1979 book costing $2.25 then would cost $6.77 in 2010 1980 book costing $2.95 then would cost $7.82 in 2010 1983 book costing $3.95 then would cost $8.66 in 2010 1984 book costing $2.75 then would cost $5.78 in 2010 1987 book costing $4.95 then would cost $9.52 in 2010 Both of these books would probably sell for $7.99 today. So we can see from 1980 MMP prices have risen close to inflation. But something happened between 1960 and 1980 causing sharp increase of ($0.97 to $2.95) almost triple rate of inflation. It appears that something happened end of the 1970s to dramatically increase prices. They double in a few years and inflation doesnt account for all of it. Please, if anyone has a paperback printed before 1980, could you post the date and cover price and I'll add to the list to see where prices went crazy. I suspect the publishing industry had a dramatic change in the 1970s. Thanks. Inflation rates from 1977-82 1977 = 6.5% 1978 = 7.6% 1979 = 11.3% 1980 = 13.5% 1981 = 10.3% 1982 = 6.2% Last edited by Fbone; 10-16-2010 at 04:51 PM.

10-15-2010, 10:34 PM	#2
cfrizz Wizard Posts: 1,542 Karma: 36124474 Join Date: Dec 2009 Location: Quincy, MA Device: Samsung 54A, Kobo Libra H2O, Samsung S6 Lite	I purchased a book 441 pgs in 1977 & paid $2.50 for it. That same book can be purchased today from Amazon will cost you $7.99. The 2nd book in the series 455 pgs purchased in 1979 was also $2.50. That same book can be purchased today from Amazon will cost you $6.99. The 3rd book in the series 393 pgs purchased in 1980 was also $2.50. That same book can be purchased today from Amazon will cost you $7.99. Hope this helps. Last edited by cfrizz; 10-15-2010 at 10:51 PM.

10-16-2010, 12:30 AM	#5
dreams It's about the umbrella Posts: 25,110 Karma: 56250158 Join Date: Jan 2009 Device: Sony 505\| K Fire \| KK 3G+Wi-Fi \| iPhone 3Gs \|Vista 32-bit Hm Prem w/FF	1962 128 pages 0.40 USD The Lilies of the Field by Wm E Barrett 1962 157 pages 0.75 USD Black Like Me by John Howard Griffin 1966 120 pages 0.60 USD The Red Pony by J Steinbeck 1967 144 pages 0.40 USD Casino Royal by Ian Fleming 1971 320 pages 3.95 USD Ordeal By Hunger by George R Stewart 1971 118 pages 0.75 USD Of Mice and Men by J Steinbeck 1975 213 pages 1.25 USD The Man Who Would Be King by R Kipling It was interesting looking for this information. I have many that do not list when the printing was done, just the copyright and the printing edition. Last edited by dreams; 10-16-2010 at 03:36 AM. Reason: added The Lillies of the Field

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10-15-2010, 10:58 PM	#3
Ravensknight Serpent Rider Posts: 1,123 Karma: 10219804 Join Date: Jun 2009 Device: Sony 350; Nook STR; Oasis	Wayfarer, by Dennis Schmidt, was printed in '78 and covercost was 1.95 Kensho, its sequel, was printed at the end of '79. covercost was 1.95. When Worlds Collide by Wylie and Balmer, was reprinted in '62 and covercost is 0.50. After Worlds Collide, sequel, was reprinted in '68 and it also had a covercost of 0.50. all books are mmp.

10-15-2010, 11:26 PM	#4
shootingMaNs later... Posts: 199 Karma: 2832520 Join Date: Dec 2009 Location: Endicott, NY Device: Sony PRS-600, iRiver Story HD, Nook Color Kobo Libra H2O	I've got a few. Spock Must Die! by James Blish- 1976- $1.25 Lords of Atlantis by Wallace West- 1963- $.40 Armageddon 2419 A.D. by Philip Nowlan- 1978- $1.95 Spock, Messiah! by Theodore Cogswell and Charles Spano- 1976- $1.75 Spock Must Die! is a really short book(118 pages), which might explain why it's $.50 cheaper than Spock, Messiah!

10-16-2010, 01:42 AM	#6
recluse Banned Posts: 3,724 Karma: 535488 Join Date: Feb 2010 Location: the Mortuary Device: Kindle 2	"The Confidence Man" by Herman Melville/276 pgs. 1964=$.60 "Night-World" by Robert Bloch/176 pgs. 1972=$.95 "Death Wish" by Brian Garfield/223 pgs. 1972=$1.25 "The House On The Borderland" by William H. Hodgson/186 pgs. 1977=$1.50 "The Apparition" by George Bishop/211 pgs. 1979=$2.25 "The Ninth Configuration" by William Peter Blatty/146 pgs. 1980=$2.25

10-16-2010, 02:48 AM	#7
crich70 Grand Sorcerer Posts: 11,309 Karma: 43993832 Join Date: Feb 2010 Location: Monroe Wisconsin Device: K3, Kindle Paperwhite, Calibre, and Mobipocket for Pc (netbook)	Well I bought a used copy of "The circus of Dr. Lao" yesterday. It was originally copyrighted in 1935 (I don't know what price it was back then). My copy was copyrighted for 1983 (through Vintage) and sold for $3.95 (I paid 4.00 plus tax). Today on Amazon the same book runs $12.78 for a new copy. It was marked down from $14.95 so there is quite a rise in price. The book has 119 pages of story (with catalogue of characters etc). So it's a short book. My copy of Dune also cost $3.95 in the early 80's. A 40th Ani. edition costs $11.56 but was marked down from $17.00 so paperback books have certainly risen in price.

10-16-2010, 03:22 AM	#8
bgalbrecht Wizard Posts: 1,806 Karma: 13399999 Join Date: Aug 2007 Location: US Device: Nook Simple Touch, Kobo Glo HD, Kobo Clara HD, Kindle 4	One of the things that happened in 1979 was that there was a Supreme Court ruling concerning the tax consequences of inventories which caused publishers to decrease print runs and pulp inventories before the end of their fiscal tax years. However, I think that's after the prices had already started jumping. http://www.sfwa.org/bulletin/articles/thor.htm

10-16-2010, 01:25 PM	#10
theducks Well trained by Cats Posts: 30,497 Karma: 58055868 Join Date: Aug 2009 Location: The Central Coast of California Device: Kobo Libra2,Kobo Aura2v1, K4NT(Fixed: New Bat.), Galaxy Tab A	I suspect our environmental laws affected the ingredients for printing books. Inks that I used in high school print sop are totally banned. Paper costs. Freight at all stages. charge cards (you don't really think those fees are paid by the merchant in the end ) OTOH Direct to plate technology helped keep pre-press costs down. (remember "Ortho " film , Vari-Typer (tm), Linotype(tm) )

10-16-2010, 04:27 PM	#11
graycyn Wizard Posts: 1,571 Karma: 11380098 Join Date: Aug 2010 Location: NE Oregon Device: Kobo Sage, Pocketbook Era, Kobo Forma, Kindle Oasis 2	Sinbad and Me by Kin Platt - 1970 paperback 60 cents. Rissa Kerguelen by F.M. Busby - 1977 paperback $1.95 Zelde M'Tana by F.M. Busby - 1980 paperback $1.95 The Alien Debt by F.M. Busby - 1984 paperback $2.75 Rebels' Seed by F.M. Busby - 1986 paperback $2.95 The Rebel Dynasty by F.M Busby - 1987 paperback $4.95 That's all my old stuff... without raiding hubby's stash.

10-16-2010, 04:29 PM	#12
HarryT eBook Enthusiast Posts: 85,544 Karma: 93383043 Join Date: Nov 2006 Location: UK Device: Kindle Oasis 2, iPad Pro 10.5", iPhone 6	What do we learn from these data? Have paperbacks risen or fallen in price in real terms?

10-16-2010, 05:19 PM	#14
Fbone Is that a sandwich? Posts: 8,235 Karma: 101696762 Join Date: Jun 2010 Device: Nook Glowlight Plus	In the US we currently have low inflation and this is not expected to last. Inflation will increase in the years ahead. If we compare what happened from 1977-82 to the present and near future, this is what would happen: 2010 ... $7.99 book will cost $12.72 in 2015 (almost $1.00/yr increase) $14.98 in 2020 $21.16 in 2030 $27.34 in 2040

10-17-2010, 09:13 PM	#15
Kali Yuga Professional Contrarian Posts: 2,045 Karma: 3289631 Join Date: Mar 2009 Device: Kindle 4 No Touchie	I'd guess that it will be nearly impossible to isolate what factors affected the price of one specific product of one specific product over such a long period of time. Also, keep in mind a few key facts about the inflation rate calculations: • The current CPI only started being used ~1975. Previous measures used a different methodology. • Few products will track exactly to the rate of inflation over a 50 year period. • Typical prices on a book's cover are not necessarily the same as the true average price of a good. Perhaps if you spent a few weeks researching book prices, the costs of the various constituent commodities, the changes in the various publishing and distribution structures, the influence of early chain stores and so forth, maybe you'd get a better conjecture. Or not.

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