1972 – Year Preview

1972: Troubles, Strikes & Unemployment

1972. The U.S. brings to an end its most divisive and unsuccessful military campaign as the last US ground troops withdraw from Vietnam. It’s a dark year for sport with the massacre of 11 Israeli athletes by Arab gunman.

This year also sees the beginning of the biggest political scandal in modern times: the Watergate Scandal. Richard Nixon orders the start of the Space Shuttle program, Digital Watches are introduced, Hewlett Packard introduce the first scientific hand-held calculator (HP-35) priced at £250, and Atari kicks-off the first generation of video games with the release of PONG.

In Ireland, a worsening of the troubles between the I.R.A. and the British government see atrocities committed on both sides and many innocent lives lost. The I.R.A. explode a bomb at the 16th Parachute Brigade headquarters in Aldershot. The Second Cod War breaks out between UK and Iceland over fishing-rights. UK unemployment rises to one million for the first time since the depression of the 1930s.

British Prime Minister: Edward Heath

UK Annual Inflation Rate (RPI): 7.1%

UK Average House Price (UK average): £7,880 / £112.684 adjusted for inflation (2020)

UK Litre of Petrol: 7.8 New Pence / £1.12 adjusted for inflation (2020)

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