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Value of 1964 US Dollars today

$16 in 1964
$162.18 in 2024

The inflation rate in the United States between 1964 and today has been 913.6%, which translates into a total increase of $146.18. This means that 16 dollars in 1964 are equivalent to 162.18 dollars in 2024. In other words, the purchasing power of $16 in 1964 equals $162.18 today. The average annual inflation rate between these periods has been 3.94%.

Inflation timeline in the United States (1964 - 2024)

The following chart depicts the equivalence of $16 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 1964-2023 882.38%
Cumulative inflation 1964-today 913.6%
Avg. Annual inflation 1964-2023 3.95%
CPI 1964 31.02
CPI 2023 304.7
CPI 2024-04 (latest official data) 313.55
CPI today 314.38

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 1964 and 2023, use the corresponding CPI values:

Value2023
=Value1964 ×
CPI2023/CPI1964
=$ 16 ×
304.7/31.02
$157.18

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 314.38:

Valuetoday
=Value1964 ×
CPItoday/CPI1964
=$ 16 ×
314.38/31.02
$162.18

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 $16 worth today. There are 59 years between 1964 and 2023 and the average inflation rate was 3.9485%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$16 × (1 + 0.039485)59
$157.18

US inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1964 $9.82 dollars in 2023
$5 dollars in 1964 $49.12 dollars in 2023
$10 dollars in 1964 $98.24 dollars in 2023
$50 dollars in 1964 $491.19 dollars in 2023
$100 dollars in 1964 $982.38 dollars in 2023
$500 dollars in 1964 $4,911.9 dollars in 2023
$1,000 dollars in 1964 $9,823.8 dollars in 2023
$5,000 dollars in 1964 $49,119.01 dollars in 2023
$10,000 dollars in 1964 $98,238.02 dollars in 2023
$50,000 dollars in 1964 $491,190.09 dollars in 2023
$100,000 dollars in 1964 $982,380.17 dollars in 2023
$500,000 dollars in 1964 $4,911,900.86 dollars in 2023
$1,000,000 dollars in 1964 $9,823,801.72 dollars in 2023
Cumulative inflation From 1964 913.6%
Avg. annual inflation From 1964 3.94%
CPI 1964 31.02
CPI today 314.38

Value of Dollar over time (by year)

Period Value
1964 16
1965 16.25
1966 16.74
1967 17.21
1968 17.94
1969 18.92
1970 20.03
1971 20.89
1972 21.57
1973 22.9
1974 25.44
1975 27.76
1976 29.36
1977 31.26
1978 33.65
1979 37.44
1980 42.51
1981 46.9
1982 49.78
1983 51.38
1984 53.59
1985 55.49
1986 56.54
1987 58.61
1988 61
1989 63.95
1990 67.4
1991 70.25
1992 72.38
1993 74.52
1994 76.46
1995 78.61
1996 80.91
1997 82.8
1998 84.09
1999 85.93
2000 88.83
2001 91.34
2002 92.79
2003 94.9
2004 97.44
2005 100.74
2006 103.99
2007 106.96
2008 111.06
2009 110.67
2010 112.48
2011 116.04
2012 118.44
2013 120.17
2014 122.12
2015 122.27
2016 123.81
2017 126.45
2018 129.53
2019 131.88
2020 133.51
2021 139.78
2022 150.97
2023 157.18
2024-04 161.74
Today 162.18

All available years

Today's value of US dollars by year:

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