Value of 1960 US Dollars today

$116 in 1960

$1,014.43 in 2020

The inflation rate in the United States between 1960 and today has been 774.51%, which translates into a total increase of $898.43. This means that 116 dollars in 1960 are equivalent to 1,014.43 dollars in 2020. In other words, the purchasing power of $116 in 1960 equals $1,014.43 today. The average annual inflation rate has been 3.62%.

Inflation timeline in the United States (1960-2020)

The following chart depicts the equivalence of $116 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1960-2020) 774.06%
Total Inflation* 774.51%
Annual inflation avg. (1960-2020) 3.68%
Annual inflation avg.* 3.62%
CPI 1960 12.4
CPI 2020 108.42
CPI today* 108.48
$1 in 1960 $8.74 in 2020

* Values extrapolated from the last official data to obtain today's values.

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 compound interest formula or the Consumer Price Index (CPI) formula.

Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as a compound interest, the following formula can be used: 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 $116 worth today. There are 60 years between 1960 and 2020 and the average inflation rate has been 3.6188%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $116 * (1 + 0.04)60 = $1,013.91

Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 1960 was 12.4 and the CPI today is 108.48. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $116 *
108.42/12.4
= $1,013.91

USA inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1960 $8.75 dollars today
$5 dollars in 1960 $43.73 dollars today
$10 dollars in 1960 $87.45 dollars today
$50 dollars in 1960 $437.25 dollars today
$100 dollars in 1960 $874.51 dollars today
$500 dollars in 1960 $4,372.53 dollars today
$1,000 dollars in 1960 $8,745.06 dollars today
$5,000 dollars in 1960 $43,725.28 dollars today
$10,000 dollars in 1960 $87,450.56 dollars today
$50,000 dollars in 1960 $437,252.78 dollars today
$100,000 dollars in 1960 $874,505.56 dollars today
$500,000 dollars in 1960 $4,372,527.81 dollars today
$1,000,000 dollars in 1960 $8,745,055.63 dollars today

Value of Dollar over time (by year)

Period Value
1960 116
1961 117.58
1962 118.37
1963 119.95
1964 121.92
1965 123.1
1966 125.47
1967 129.81
1968 133.76
1969 140.07
1970 148.75
1971 157.03
1972 162.16
1973 167.69
1974 182.29
1975 204.78
1976 218.98
1977 229.63
1978 245.02
1979 267.12
1980 302.63
1981 340.5
1982 370.88
1983 385.09
1984 399.69
1985 415.47
1986 431.25
1987 435.99
1988 455.32
1989 475.44
1990 497.54
1991 527.92
1992 544.1
1993 559.88
1994 575.27
1995 590.65
1996 605.65
1997 625.77
1998 636.42
1999 646.68
2000 664.04
2001 686.53
2002 697.18
2003 713.76
2004 727.17
2005 750.84
2006 776.49
2007 796.22
2008 828.71
2009 829.47
2010 852.04
2011 864.79
2012 890.41
2013 905.91
2014 919.51
2015 926.47
2016 933.23
2017 952.59
2018 972.68
2019 991.26
2020 1,013.91
Today 1,014.43