I remember learning about it! Way back in the dark ages I used to get 3 pence of mixed lollies. I noticed that I was getting less and less for my money. In the end I asked my Mother for 6 pence and explained why... She laughed and said 'inflation'.
Kids don't know about inflation, anyhow...
But, back on topic.... I didn't believe in any of them, ever.
But I firmly believed there were fairies at the bottom of the garden. I used to hang out there hoping to see one.