The cumulative inflation rate in the United States between 1964 and today has been 977.97%, meaning that prices are 10.8 times higher than they were in 1964. In practical terms, the purchasing power of $311M in 1964 is equivalent to $3.35 billion in today's dollars. The average annual inflation rate over this period has been 4.04%.
The chart below shows how the value of $311M changes over time when adjusted for inflation, based on Consumer Price Index (CPI) data. All values are equivalent in terms of purchasing power, indicating how much money would be needed each year to buy the same goods or services.
All calculations are performed in US dollars with six-decimal precision, though displayed values are rounded to two decimals for readability. Inflation figures are sourced from official government and international reports released monthly. To convert historical amounts into today's dollars, we use the most recent CPI data available and extrapolate it to estimate the CPI for today.
The following table contains relevant indicators:
| Indicator | Value |
|---|---|
| Cumulative inflation 1964-2023 | 882.38% |
| Cumulative inflation 1964-today | 977.97% |
| Avg. Annual inflation 1964-2023 | 3.95% |
| CPI 1964 | 31.02 |
| CPI 2023 | 304.7 |
| CPI 2026-07 (latest official data) | 333.92 |
| CPI today | 334.35 |
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.
When we have both the start and end years, we can use the following formula:
To obtain the values equivalent in buying power between 1964 and 2023, use the corresponding CPI values:
To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 334.35:
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:
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 $311M 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:
| 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 | → | $4.91M dollars in 2023 |
| $1,000,000 dollars in 1964 | → | $9.82M dollars in 2023 |
| Cumulative inflation From 1964 | 977.97% |
| Avg. annual inflation From 1964 | 4.04% |
| CPI 1964 | 31.02 |
| CPI today | 334.35 |
| Period | Value |
|---|---|
| 1964 | $311M |
| 1965 | $315.93M |
| 1966 | $325.46M |
| 1967 | $334.48M |
| 1968 | $348.77M |
| 1969 | $367.82M |
| 1970 | $389.29M |
| 1971 | $406M |
| 1972 | $419.29M |
| 1973 | $445.19M |
| 1974 | $494.41M |
| 1975 | $539.61M |
| 1976 | $570.61M |
| 1977 | $607.71M |
| 1978 | $654.09M |
| 1979 | $727.7M |
| 1980 | $826.3M |
| 1981 | $911.69M |
| 1982 | $967.59M |
| 1983 | $998.68M |
| 1984 | $1.04B |
| 1985 | $1.08B |
| 1986 | $1.1B |
| 1987 | $1.14B |
| 1988 | $1.19B |
| 1989 | $1.24B |
| 1990 | $1.31B |
| 1991 | $1.37B |
| 1992 | $1.41B |
| 1993 | $1.45B |
| 1994 | $1.49B |
| 1995 | $1.53B |
| 1996 | $1.57B |
| 1997 | $1.61B |
| 1998 | $1.63B |
| 1999 | $1.67B |
| 2000 | $1.73B |
| 2001 | $1.78B |
| 2002 | $1.8B |
| 2003 | $1.84B |
| 2004 | $1.89B |
| 2005 | $1.96B |
| 2006 | $2.02B |
| 2007 | $2.08B |
| 2008 | $2.16B |
| 2009 | $2.15B |
| 2010 | $2.19B |
| 2011 | $2.26B |
| 2012 | $2.3B |
| 2013 | $2.34B |
| 2014 | $2.37B |
| 2015 | $2.38B |
| 2016 | $2.41B |
| 2017 | $2.46B |
| 2018 | $2.52B |
| 2019 | $2.56B |
| 2020 | $2.6B |
| 2021 | $2.72B |
| 2022 | $2.93B |
| 2023 | $3.06B |
| 2026-07 | $3.35B |
| Today | $3.35B |
All available years
Today's value of US dollars by year:
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