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......and there is an email from the Reserve Bank of Australia below the valuation

Engagement Ring

Email to the Bank on Wednesday 16th March 2005
I have searched all over the internet trying to find a piece of information
I did not have any luck, and I am hoping you may be able to help me out
My question ---
"If I spent $270.00 in 1974, what would be the approximate outlay at today's prices???
In other words, $270.00 in 1974 = $??? in 2005
Thank you, and I look forward to your reply

......and the reply onThursday 17th March 2005
Dear Geoff
$270.00 in 1974 would be worth approximately $1700.00 today
John Pick
Manager Media Office
Information Department
Reserve Bank of Australia