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Value of 1962 US Dollars today

$7,500 in 1962
$74,158.47 in 2022

The inflation rate in the United States between 1962 and today has been 888.78%, which translates into a total increase of $66,658.47. This means that 7,500 dollars in 1962 are equivalent to 74,158.47 dollars in 2022. In other words, the purchasing power of $7,500 in 1962 equals $74,158.47 today. The average annual inflation rate between these periods has been 3.89%.

Inflation timeline in the United States (1962 - 2022)

The following chart depicts the equivalence of $7,500 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 1962-2021 795.77%
Cumulative inflation 1962-today 888.78%
Avg. Annual inflation 1962-2021 3.79%
CPI 1962 12.76
CPI 2021 114.33
CPI 2022-06 (latest official data) 125.02
CPI today 126.2

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 1962 and 2021, use the corresponding CPI values:

Value2021
=Value1962 ×
CPI2021/CPI1962
=$ 7,500 ×
114.33/12.76
$67,182.55

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 126.2:

Valuetoday
=Value1962 ×
CPItoday/CPI1962
=$ 7,500 ×
126.2/12.76
$74,158.47

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 $7,500 worth today. There are 59 years between 1962 and 2021 and the average inflation rate was 3.786%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$7,500 × (1 + 0.03786)59
$67,182.55

US inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1962 $8.96 dollars in 2021
$5 dollars in 1962 $44.79 dollars in 2021
$10 dollars in 1962 $89.58 dollars in 2021
$50 dollars in 1962 $447.88 dollars in 2021
$100 dollars in 1962 $895.77 dollars in 2021
$500 dollars in 1962 $4,478.84 dollars in 2021
$1,000 dollars in 1962 $8,957.67 dollars in 2021
$5,000 dollars in 1962 $44,788.37 dollars in 2021
$10,000 dollars in 1962 $89,576.74 dollars in 2021
$50,000 dollars in 1962 $447,883.69 dollars in 2021
$100,000 dollars in 1962 $895,767.39 dollars in 2021
$500,000 dollars in 1962 $4,478,836.93 dollars in 2021
$1,000,000 dollars in 1962 $8,957,673.86 dollars in 2021
Cumulative inflation From 1962 888.78%
Avg. annual inflation From 1962 3.89%
CPI 1962 12.76
CPI today 126.2

Value of Dollar over time (by year)

Period Value
1962 7,500
1963 7,592.97
1964 7,690.08
1965 7,811.98
1966 8,047.52
1967 8,270.66
1968 8,623.97
1969 9,095.04
1970 9,626.03
1971 10,039.26
1972 10,367.77
1973 11,008.26
1974 12,225.2
1975 13,342.98
1976 14,109.5
1977 15,026.86
1978 16,173.55
1979 17,993.8
1980 20,431.82
1981 22,543.39
1982 23,925.62
1983 24,694.21
1984 25,756.2
1985 26,669.41
1986 27,175.62
1987 28,171.48
1988 29,320.24
1989 30,735.53
1990 32,394.62
1991 33,766.52
1992 34,789.25
1993 35,816.11
1994 36,749.99
1995 37,780.98
1996 38,888.42
1997 39,797.51
1998 40,415.29
1999 41,299.58
2000 42,694.21
2001 43,900.82
2002 44,597.1
2003 45,609.49
2004 46,830.57
2005 48,419.41
2006 49,981.39
2007 51,407.2
2008 53,380.77
2009 53,190.98
2010 54,063.34
2011 55,770.03
2012 56,924.1
2013 57,757.94
2014 58,694.91
2015 58,764.53
2016 59,505.91
2017 60,773.46
2018 62,257.85
2019 63,386.13
2020 64,168.05
2021 67,182.55
2022-06 73,465.54
Today 74,158.47

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 |

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