With the benefit of 34 years' hindsight, life in 1970 appears to have been ludicrously cheap. A loaf of bread cost 9p and the average weekly wage was around £32. Today, a loaf costs 53p and weekly wages are about £475.
Property prices have also risen. In 1970, homebuyers could expect to pay £4,975 for a house. Today, their children would not get much change from £140,000.
It was a similar story on the roads. The Range Rover, which was launched in 1970, could have been yours for £1,998. Almost a quarter of a century later, a 4.4 litre Range Rover Vogue will set you back £57,700.
The Mini, which celebrated its 11th birthday in 1970, cost around £600. Its redesigned descendant now sells for £10,500.
A glance at Britain's social life in 1970 is equally intriguing. A trip for two to the cinema cost less than 90p, compared with at least £9 today, while a bottle of plonk was about £1. Today it is £4.55.
For those with more spirited and extravagant tastes, a bottle of whisky cost £2.69 back then, compared with £12 now.
Pub prices, too, seem foreign. A pint of lager in your local was 20p, a far cry from today's average of £2.10. And cigarettes, which enjoyed a lot more popularity then, were 20p for 20. Today, the habit costs about £4.65 a pack.
Still, it's not all doom and gloom. Prices have gone up but so has our spending power.
And some things have even risen for the better. In 1970, the average life expectancy in Britain was 72. Today, it is 77 - giving us five more years of spending.
