In the 1970s,the relationship between stock-market prices and the consumer price index was roughly equal to that of the 1920s,rising in roughly equal amounts.

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In the 1970s, stock-market prices and the consumer price index (CPI) did not rise in roughly equal amounts. The 1970s were characterized by high inflation rates (reflected in the rising CPI), while stock-market prices experienced significant volatility and did not keep pace with inflation, leading to real losses for investors.

In the 1970s,the Relationship Between Stock-Market Prices and the Consumer