# Value of 1966 US Dollars today

\$100 in 1966

\$809.53 in 2020

The inflation rate in the United States between 1966 and today has been 709.53%, which translates into a total increase of \$709.53. This means that 100 dollars in 1966 are equivalent to 809.53 dollars in 2020. In other words, the purchasing power of \$100 in 1966 equals \$809.53 today. The average annual inflation rate has been 3.88%.

## Inflation timeline in the United States (1966-2020)

The following chart depicts the equivalence of \$100 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 (1966-2020) 708.09%
Total Inflation* 709.53%
Annual inflation avg. (1966-2020) 3.95%
Annual inflation avg.* 3.88%
CPI 1966 13.42
CPI 2020 108.42
CPI today* 108.61
\$1 in 1966 \$8.08 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 \$100 worth today. There are 54 years between 1966 and 2020 and the average inflation rate has been 3.8755%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.04)54 = \$808.09

#### 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 1966 was 13.42 and the CPI today is 108.61. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
108.42/13.42
= \$808.09

### USA inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1966 \$8.1 dollars today
\$5 dollars in 1966 \$40.48 dollars today
\$10 dollars in 1966 \$80.95 dollars today
\$50 dollars in 1966 \$404.77 dollars today
\$100 dollars in 1966 \$809.53 dollars today
\$500 dollars in 1966 \$4,047.65 dollars today
\$1,000 dollars in 1966 \$8,095.31 dollars today
\$5,000 dollars in 1966 \$40,476.54 dollars today
\$10,000 dollars in 1966 \$80,953.08 dollars today
\$50,000 dollars in 1966 \$404,765.38 dollars today
\$100,000 dollars in 1966 \$809,530.75 dollars today
\$500,000 dollars in 1966 \$4,047,653.77 dollars today
\$1,000,000 dollars in 1966 \$8,095,307.54 dollars today

Period Value
1966 100
1967 103.46
1968 106.6
1969 111.64
1970 118.55
1971 125.16
1972 129.25
1973 133.65
1974 145.28
1975 163.21
1976 174.53
1977 183.02
1978 195.28
1979 212.89
1980 241.19
1981 271.38
1982 295.6
1983 306.92
1984 318.55
1985 331.13
1986 343.71
1987 347.48
1988 362.89
1989 378.93
1990 396.54
1991 420.75
1992 433.65
1993 446.23
1994 458.49
1995 470.75
1996 482.7
1997 498.74
1998 507.23
1999 515.41
2000 529.25
2001 547.17
2002 555.66
2003 568.87
2004 579.56
2005 598.43
2006 618.87
2007 634.59
2008 660.49
2009 661.09
2010 679.08
2011 689.24
2012 709.66
2013 722.02
2014 732.86
2015 738.4
2016 743.79
2017 759.22
2018 775.23
2019 790.04
2020 808.09
Today 809.53