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Value of 1947 US Dollars today

$100 in 1947
$1,409.32 in 2024

The inflation rate in the United States between 1947 and today has been 1,309.32%, which translates into a total increase of $1,309.32. This means that 100 dollars in 1947 are equivalent to 1,409.32 dollars in 2024. In other words, the purchasing power of $100 in 1947 equals $1,409.32 today. The average annual inflation rate between these periods has been 3.5%.

Inflation timeline in the United States (1947 - 2024)

The following chart depicts the equivalence of $100 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (USD) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1947-2023 1,264.84%
Cumulative inflation 1947-today 1,309.32%
Avg. Annual inflation 1947-2023 3.5%
CPI 1947 22.33
CPI 2023 304.7
CPI 2024-05 (latest official data) 314.07
CPI today 314.63

How to calculate today's value of money after inflation?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1947 and 2023, use the corresponding CPI values:

Value2023
=Value1947 ×
CPI2023/CPI1947
=$ 100 ×
304.7/22.33
$1,364.84

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 314.63:

Valuetoday
=Value1947 ×
CPItoday/CPI1947
=$ 100 ×
314.63/22.33
$1,409.32

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: FV = PV × (1 + i)n, where:

  • FV: Future Value
  • PV: Present Value
  • i: Interest rate (inflation)
  • n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are $100 worth today. There are 76 years between 1947 and 2023 and the average inflation rate was 3.4988%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.034988)76
$1,364.84

US inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1947 $13.65 dollars in 2023
$5 dollars in 1947 $68.24 dollars in 2023
$10 dollars in 1947 $136.48 dollars in 2023
$50 dollars in 1947 $682.42 dollars in 2023
$100 dollars in 1947 $1,364.84 dollars in 2023
$500 dollars in 1947 $6,824.22 dollars in 2023
$1,000 dollars in 1947 $13,648.45 dollars in 2023
$5,000 dollars in 1947 $68,242.24 dollars in 2023
$10,000 dollars in 1947 $136,484.47 dollars in 2023
$50,000 dollars in 1947 $682,422.36 dollars in 2023
$100,000 dollars in 1947 $1,364,844.72 dollars in 2023
$500,000 dollars in 1947 $6,824,223.59 dollars in 2023
$1,000,000 dollars in 1947 $13,648,447.18 dollars in 2023
Cumulative inflation From 1947 1,309.32%
Avg. annual inflation From 1947 3.5%
CPI 1947 22.33
CPI today 314.63

Value of Dollar over time (by year)

Period Value
1947 100
1948 107.69
1949 106.64
1950 107.8
1951 116.27
1952 118.92
1953 119.9
1954 120.27
1955 119.93
1956 121.76
1957 125.83
1958 129.26
1959 130.57
1960 132.47
1961 133.89
1962 135.5
1963 137.18
1964 138.93
1965 141.13
1966 145.39
1967 149.42
1968 155.8
1969 164.32
1970 173.91
1971 181.37
1972 187.31
1973 198.88
1974 220.87
1975 241.06
1976 254.91
1977 271.48
1978 292.2
1979 325.08
1980 369.13
1981 407.28
1982 432.25
1983 446.14
1984 465.32
1985 481.82
1986 490.97
1987 508.96
1988 529.71
1989 555.28
1990 585.26
1991 610.04
1992 628.52
1993 647.07
1994 663.94
1995 682.57
1996 702.58
1997 719
1998 730.16
1999 746.14
2000 771.33
2001 793.13
2002 805.71
2003 824
2004 846.06
2005 874.77
2006 902.99
2007 928.75
2008 964.4
2009 960.97
2010 976.73
2011 1,007.57
2012 1,028.42
2013 1,043.48
2014 1,060.41
2015 1,061.67
2016 1,075.06
2017 1,097.96
2018 1,124.78
2019 1,145.16
2020 1,159.29
2021 1,213.75
2022 1,310.88
2023 1,364.84
2024-05 1,406.8
Today 1,409.32

All available years

Today's value of US dollars by year:

1913 | 1914 | 1915 | 1916 | 1917 | 1918 | 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | 1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |

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