How Much things cost in 1997 Yearly Inflation Rate USA 2.34 % Year End Close Dow Jones Industrial Average 7908 Interest Rates Year End Federal Reserve 8.50% Average Cost of new house $124,100.00 Average Income per year $37,006.00 Average Monthly Rent $576.00 Cost of a gallon of Gas $1.22 1 LB Hamburger meat$1.38 Average cost of new car $16,900.00
What Events Happened in 1997
Hong Kong returned to Chinese rule from UK rule
Israelis pull out of Hebron on West bank
70 people including 60 foreign tourists are gunned down by Islamic extremists in Egypts Valley of The Kings
Princess Diana calls for an immediate international ban on land mines
Intercity 125 from Swansea to London crashes in Southall, West London killing 6
Diana Princess of Wales is killed in a car crash in Paris August 31st.
Princess Diana's funeral watched by 1.5 billion people around the world
Kyoto Protocol Agreed when 150 countries sign up at a global warming conference in Kyoto, Japan
Microsoft becomes the worlds most valuable company valued at $261 billion dollars
Heavens Gate Cult Commits Mass Suicides in California
The Dow Jones Industrial Average closes above 7,000 for the first time
Tony Blair becomes Prime Minister of the United Kingdom
Mother Teresa Dies in Calcutta
The Armed Islamic Group (GIA ) continues it's reign of terror killing innocent villagers in an attempt to overthrow the Algerian government and replace it with an Islamic state
UN FAO announces that 18 million people die annually in the third world from hunger and undernourishment
Tornado hits in Jarrell, Texas killing 27 people
Luxemburg is the richest country in the world with an average per capita income of $41,210 followed by Switzerland and Japan
Scotland votes to create its own Parliament after 290 years of union with England
Wales votes in favour of devolution and the formation of a National Assembly
El Nino forms in the oceans between Australia causing unstable weather conditions including Hurricanes and drought in the Southern Hemisphere and colder temperatures in the North
Stock markets around the world crash because of a global economic crisis scare and in response to a 554.26 point free fall on 24th November , New York Stock Exchange officials invoked the "circuit breaker" rule and put a halt to trading
Mike Tyson Bites Evander Holyfield's ear during a match and is suspended from boxing
Louise Woodward a British Au Pair found guilty of second degree murder in Boston for killing the baby in her care
Woolworths closes its remaining discount stores after more than 100 years of trading
A civil jury panel findsOJ Simpson Guilty
Hemophiliacs / Aids US Cases From 80's infected blood products Settled
Siege of the Japanese embassy ends in Peru when troops storm the embassy and free all but one of 72 hostages held inside
Assisi's Medieval Basilica ceiling and important frescoes Damaged In Earthquake.
A series of settlements between tobacco companies and US states is agreed to cover tobacco-related health costs
Terrorists Attack A tourist bus on November 17th in Luxor
Due to torrential rains many rivers flood in Europe causing mass flooding to villages and towns in many parts of Europe.
Tiger Woods at 21 years old became the youngest ever golfer to win the Masters
Steve Jobs returns to run Apple Computers
China deports the pro democracy dissident Wei Jingsheng to the United States
Carlos the Jackal, is caught and sentenced by a French court to life in prison
French truck drivers form roadblocks around the country at ports, oil refineries and major roads.
Andrew Cunanan Commits Suicide after murdering 4 people including fashion designer Gianni Versace
WorldCom and MCI Communications announce the largest merger in history
Hong Kong kills all the chickens within its territory (1.25 million) to stop the spread of a potentially deadly influenza strain known as Avian Flu . Bird flu was thought only to infect birds until the first human cases were seen in Hong Kong in 1997
Popular Culture 1997 The Simpsons becomes the longest-running prime-time animated series. Notorious B.I.G. Shot killed in drive by shooting The first book in the award winning Harry Potter series by J. K. Rowling is published "Harry Potter and the Philosopher's Stone" released in US in 1998 as "Harry Potter and the Sorcerer's Stone"