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Value of 1983 US Dollars today

$100 in 1983
$298.3 in 2022

The inflation rate in the United States between 1983 and today has been 198.3%, which translates into a total increase of $198.3. This means that 100 dollars in 1983 are equivalent to 298.3 dollars in 2022. In other words, the purchasing power of $100 in 1983 equals $298.3 today. The average annual inflation rate between these periods has been 2.84%.

Inflation timeline in the United States (1983 - 2022)

The following chart depicts the equivalence of $100 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 1983-2021 172.06%
Cumulative inflation 1983-today 198.3%
Avg. Annual inflation 1983-2021 2.67%
CPI 1983 42.02
CPI 2021 114.33
CPI 2022-08 (latest official data) 124.96
CPI today 125.35

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 1983 and 2021, use the corresponding CPI values:

Value2021
=Value1983 ×
CPI2021/CPI1983
=$ 100 ×
114.33/42.02
$272.06

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 125.35:

Valuetoday
=Value1983 ×
CPItoday/CPI1983
=$ 100 ×
125.35/42.02
$298.3

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 $100 worth today. There are 38 years between 1983 and 2021 and the average inflation rate was 2.6688%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.026688)38
$272.06

US inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1983 $2.72 dollars in 2021
$5 dollars in 1983 $13.6 dollars in 2021
$10 dollars in 1983 $27.21 dollars in 2021
$50 dollars in 1983 $136.03 dollars in 2021
$100 dollars in 1983 $272.06 dollars in 2021
$500 dollars in 1983 $1,360.29 dollars in 2021
$1,000 dollars in 1983 $2,720.58 dollars in 2021
$5,000 dollars in 1983 $13,602.9 dollars in 2021
$10,000 dollars in 1983 $27,205.79 dollars in 2021
$50,000 dollars in 1983 $136,028.97 dollars in 2021
$100,000 dollars in 1983 $272,057.93 dollars in 2021
$500,000 dollars in 1983 $1,360,289.66 dollars in 2021
$1,000,000 dollars in 1983 $2,720,579.31 dollars in 2021
Cumulative inflation From 1983 198.3%
Avg. annual inflation From 1983 2.84%
CPI 1983 42.02
CPI today 125.35

Value of Dollar over time (by year)

Period Value
1983 100
1984 104.3
1985 108
1986 110.05
1987 114.08
1988 118.73
1989 124.46
1990 131.18
1991 136.74
1992 140.88
1993 145.04
1994 148.82
1995 153
1996 157.48
1997 161.16
1998 163.66
1999 167.24
2000 172.89
2001 177.78
2002 180.6
2003 184.7
2004 189.64
2005 196.08
2006 202.4
2007 208.18
2008 216.17
2009 215.4
2010 218.93
2011 225.84
2012 230.52
2013 233.89
2014 237.69
2015 237.97
2016 240.97
2017 246.1
2018 252.12
2019 256.68
2020 259.85
2021 272.06
2022-08 297.36
Today 298.3

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 |

Other currencies: