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1979 1973 Inflation has a significant impact on peoples lives around the world with the UK inflation rate running at 8.4% and the US running at 6.16% . This causes problems in every aspect of peoples lives from the price of Gas, Food and Bills , which in turn causes higher wages and the spiral continues, much of this is caused by the Arab members of the (OPEC) restricting the flow of oil to countries supporting Israel as part of the Yom Kippur War. And the start of a Recession in Europe causing increased unemployment and a 3 day week in the UK. Meanwhile in the US two important cases dominate the news with Roe v. Wade making abortion a US constitutional right on the 22nd January and the start of the Watergate hearings in the US Senate, and due to price increase of gas the Japanese car manufacturers with smaller engines and more efficient have an impact of the US car industry
Cost of Living 1973
How Much things cost in 1973
Yearly Inflation Rate USA 6.16%
Yearly Inflation Rate UK 8.4%
Year End Close Dow Jones Industrial Average 850 Average Cost of new house $32,500.00 Average Income per year $12,900.00 Average Monthly Rent $175.00 Cost of a gallon of Gas 40 cents AMC Javelin car$2,900.00 A Dozen Eggs 45 cents
Below are some Prices for UK guides in Pounds Sterling
Average House Price 9,942 Gallon of Petrol 0.35 To find more prices and information for the 70's including 1973 |
From Our 1973 Page Part of our 1970s Toys Selection of 250 Seventies Toys
Price: From $3.75
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What Events Happened in 1973
OPEC
- Arab members of the Organization of Petroleum Exporting Countries (OPEC), announce they will restrict flow of crude oil to countries supporting Israel on October 17th causing price of oil to increase by 200%
U.S.
- Alaska Oil Pipeline bill is passed to allow construction of a pipeline to access oil from the North Slope of Alaska
OPEC
- Recession begins in Europe following OPEC Oil price increases
U.S.
- Roe v. Wade makes abortion a US constitutional right
European Union
- Britain Ireland and Denmark join the EEC
Netherlands
- The Netherlands holds a number of car free Sunday's during the oil crisis to conserve oil.
U.S.
- Chrysler and other US car makers close a number of plants affecting 100,000 workers
Vietnam
- US Troops withdrawn from Vietnam and U.S. involvement in Vietnam War ends with the signing of peace
U.S.
- World Trade Center in New York becomes the tallest building in the world
U.S.
- Supreme Court of the United States rules on Roe v. Wade. January 22nd
UK 
- IRA bombs explode in King's Cross and Euston station on September 10th , the Whitehall, the Old Bailey and Manchester city center.
U.S.
- Watergate Hearings begin in the United States Senate and President Richard Nixon tells the nation , “I am not a crook.”
Israel
- Yom Kippur War - Fourth and largest Arab-Israeli conflict begins as Egyptian and Syrian forces attack Israel
Australia
- Sydney Opera House is opened
U.S.
- Armed members of the American Indian Movement and their supporters seize the old town of Wounded Knee in South Dakota
Spain
- Basque Terrorists Kill Spanish Prime Minister
Turkey
- The Bosporus Bridge is completed joining Europe and Asia in Istanbul
Greece
- Following student rioting Marshal Law is imposed
Chili
- Military coup in Chili led by General Augusto Pinochet.
Israel
- Israel Shoots Down Libyan Passenger Plane
U.S.
- In a Tennis Match billed as the battle of the sexes Mrs Billy Jean King defeats Bobby Riggs
Bangladesh
- Newly created Bangladesh Elects First Prime Minister Sheikh Mujib Rahman
UK
- TUC brings 1.5 Million on Strike in UK as Day Of Protest at pay restraint policy
UK
- Princess Anne, marries Captain Mark Phillips in Westminster Abbey
UK
- In the UK, as a result of high coal and oil prices, the Three-Day Week officially comes into force.
Belize
- Belize Gains Independence From Great Britain
Northern Ireland
- A referendum in Northern Ireland results in a vote to stay as part of the United Kingdom
U.S.
- Secretariat Wins Triple Crown first winner for 25 years
U.S.
- The wide ranging Endangered Species Act of 1973 is signed into law to "protect species and the ecosystems upon which they depend."
Bahamas
- The Bahamas Gains Independence From Great Britain
Iceland
- Royal Navy Protect Trawlers in Cod War In Icelandic Waters
U.S.
- The Mississippi River reaches its peak level in St. Louis during a record 77-day flood.
Technology
- Skylab, the United States' first space station, is launched
- Concorde cuts flying time across the Atlantic in half flying at average speed of 954 mph
- The Sears Tower opens in Chicago
Inventions Invented by Inventors and Country ( or attributed to First Use )
Genetic Engineering USA by S Cohen and H Boyer
Barcode USA
Optical Fiber USA
Space Station USA Skylab
Jetski or Personal Watercraft USA Clayton Jacobson II ( Original was only stand up and difficult to stay on ) manufactured by Kawasaki
From Our Seventies Fashions Pages
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Part of Our Seventies Fashion Section
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Popular Culture 1973
- Elvis Presley's Aloha From Hawaii television special is seen around the world by more than 1 billion viewers
Popular Films
- The Exorcist
- Deliverance
- Live and Let Die
- Paper Moon
- Dark Side Of The Moon Reminded by Pink Floyd Fan
- Last Tango in Paris
- Jesus Christ Superstar
- American Graffiti
- Lady Sings the Blues
- The Sting
Check out our Television Programmes From The 70s whenever possible we have included a trailer to jog your memory. Series trailers and more information are found on the decade they started.
Popular Musicians and songs
- Stevie Wonder
- ABBA
- The Eagles
- John Lennon
- Paul Simon
- Pink Floyd " Dark Side Of The Moon "
- Rod Stewart
- Michael Jackson
- Elton John with " Crocodile Rock "
- Rolling Stones with " Angie "
- The Moody Blues
- David Bowie
- Led Zeppelin
- Wizzard
- Electric Light Orchestra
- Paul McCartney and Wings with " My Love "
- Bob Marley and the Wailers
- Diana Ross
Popular TV Programmes
- The Odd Couple
- The Partridge Family
- Columbo
- Masterpiece Theatre
- McMillan and Wife
- Old Grey Whistle Test (UK)
- Are You Being Served? (UK)
- Colditz (UK)
- Emmerdale Farm (UK)
- M*A*S*H
- Sanford and Son
- The Bob Newhart Show
- The Price Is Right
- The Waltons
Major World Political Leaders 1973
Australia Prime Minister Brazil President Emilio Gough WhitlamMedici Canada Prime Minister Pierre Trudeau
China Chairman of the People's Republic of China Dong Biwu
France President Georges Pompidou
Germany Chancellor Willy Brandt
India Prime Minister Indira Gandhi
Italy Prime Minister
Japan Prime Minister Kakuei Tanaka Mexico President Luis Echeverría Russia / Soviet Union
First Secretary of the CPSU Leonid Brezhnev South Africa Prime Minister Balthazar Johannes Vorster United States President Richard Nixon United Kingdom Prime Minister Edward Heath
1973 Prime Minister Of Italy Giulio Andreotti Till 7 July
1973 Prime Minister Of Italy Mariano Rumor From 26 July
Political Elections This Year
British General Election 1st in 73 creates hung parliament forcing a second General Election1974 Harold Wilson ( Labour ) Edward Heath ( Conservative ) and Jeremy Thorpe ( Liberal ) No Overall Majority
