USA HISTORY

Detailed explanation-1: -OPA regulations covered numerous consumer goods. (Image courtesy Northwestern University Library) Enlarge image The federal Office of Price Administration (OPA) took on the task of reining in rising prices in early 1942.

Detailed explanation-2: -The OPA had the power to place ceilings on all prices except agricultural commodities, and to ration scarce supplies of other items, including tires, automobiles, shoes, nylon, sugar, gasoline, fuel oil, coffee, meats and processed foods. At the peak, almost 90% of retail food prices were frozen.

Detailed explanation-3: -On August 28, 1941, President Roosevelt’s Executive Order 8875 created the Office of Price Administration (OPA). The OPA’s main responsibility was to place a ceiling on prices of most goods, and to limit consumption by rationing. Americans received their first ration cards in May 1942.

Detailed explanation-4: -Though World War Two lasted fewer than four years, World War Two was the most expensive war in the history. Adjusted for inflation to today’s dollars, the war cost over $4 trillion.