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Inflation calculator - US Dollar

$1 in 1956
$10.77 in 2022

The inflation rate in the United States between 1956 and 2022 was 976.6%, which translates into a total increase of $9.77. This means that 1 dollars in 1956 are equivalent to 10.77 dollars in 2022. In other words, the purchasing power of $1 in 1956 equals $10.77 in 2022. The average annual inflation rate between these periods was 3.67%.

Inflation timeline in the United States (1956 - 2022)

The following chart depicts the equivalence of $1 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.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation from 1956 to 2022 976.6%
Avg. Annual inflation from 1956 to 2022 3.67%
CPI 1956 11.47
CPI 2022 123.47

How to calculate the time value of money with inflation data?

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 1956 and 2022, use the corresponding CPI values:

Value2022
=Value1956 ×
CPI2022/CPI1956
=$ 1 ×
123.47/11.47
$10.77

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 is $1 worth today. There are 66 years between 1956 and 2022 and the average inflation rate was 3.6662%. Therefore, we can resolve the formula like this:

Value2022
=PV × (1 + i)n
=$1 × (1 + 0.036662)66
$10.77

US inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1956 $10.77 dollars in 2022
$5 dollars in 1956 $53.83 dollars in 2022
$10 dollars in 1956 $107.66 dollars in 2022
$50 dollars in 1956 $538.3 dollars in 2022
$100 dollars in 1956 $1,076.6 dollars in 2022
$500 dollars in 1956 $5,382.98 dollars in 2022
$1,000 dollars in 1956 $10,765.96 dollars in 2022
$5,000 dollars in 1956 $53,829.82 dollars in 2022
$10,000 dollars in 1956 $107,659.64 dollars in 2022
$50,000 dollars in 1956 $538,298.22 dollars in 2022
$100,000 dollars in 1956 $1,076,596.44 dollars in 2022
$500,000 dollars in 1956 $5,382,982.21 dollars in 2022
$1,000,000 dollars in 1956 $10,765,964.42 dollars in 2022
Cumulative inflation 1956-2022 976.6%
Avg. annual inflation 1956-2022 3.67%
CPI 1956 11.47
CPI 2022 123.47

Value of Dollar over time (by year)

Period Value
1956 1
1957 1.03
1958 1.06
1959 1.07
1960 1.09
1961 1.1
1962 1.11
1963 1.13
1964 1.14
1965 1.16
1966 1.19
1967 1.23
1968 1.28
1969 1.35
1970 1.43
1971 1.49
1972 1.54
1973 1.63
1974 1.81
1975 1.98
1976 2.09
1977 2.23
1978 2.4
1979 2.67
1980 3.03
1981 3.34
1982 3.55
1983 3.66
1984 3.82
1985 3.96
1986 4.03
1987 4.18
1988 4.35
1989 4.56
1990 4.81
1991 5.01
1992 5.16
1993 5.31
1994 5.45
1995 5.61
1996 5.77
1997 5.9
1998 6
1999 6.13
2000 6.33
2001 6.51
2002 6.62
2003 6.77
2004 6.95
2005 7.18
2006 7.42
2007 7.63
2008 7.92
2009 7.89
2010 8.02
2011 8.27
2012 8.45
2013 8.57
2014 8.71
2015 8.72
2016 8.83
2017 9.02
2018 9.24
2019 9.4
2020 9.52
2021 9.97
2022 10.77

All available years

Today's value of US dollars by year:

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 |

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