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Value of 1984 US Dollars today

$100 in 1984
$302.92 in 2024

The inflation rate in the United States between 1984 and today has been 202.92%, which translates into a total increase of $202.92. This means that 100 dollars in 1984 are equivalent to 302.92 dollars in 2024. In other words, the purchasing power of $100 in 1984 equals $302.92 today. The average annual inflation rate between these periods has been 2.81%.

Inflation timeline in the United States (1984 - 2024)

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 1984-2023 193.31%
Cumulative inflation 1984-today 202.92%
Avg. Annual inflation 1984-2023 2.8%
CPI 1984 103.88
CPI 2023 304.7
CPI 2024-05 (latest official data) 314.07
CPI today 314.69

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 1984 and 2023, use the corresponding CPI values:

Value2023
=Value1984 ×
CPI2023/CPI1984
=$ 100 ×
304.7/103.88
$293.31

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 314.69:

Valuetoday
=Value1984 ×
CPItoday/CPI1984
=$ 100 ×
314.69/103.88
$302.92

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 39 years between 1984 and 2023 and the average inflation rate was 2.7976%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.027976)39
$293.31

US inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1984 $2.93 dollars in 2023
$5 dollars in 1984 $14.67 dollars in 2023
$10 dollars in 1984 $29.33 dollars in 2023
$50 dollars in 1984 $146.66 dollars in 2023
$100 dollars in 1984 $293.31 dollars in 2023
$500 dollars in 1984 $1,466.56 dollars in 2023
$1,000 dollars in 1984 $2,933.11 dollars in 2023
$5,000 dollars in 1984 $14,665.57 dollars in 2023
$10,000 dollars in 1984 $29,331.13 dollars in 2023
$50,000 dollars in 1984 $146,655.66 dollars in 2023
$100,000 dollars in 1984 $293,311.33 dollars in 2023
$500,000 dollars in 1984 $1,466,556.63 dollars in 2023
$1,000,000 dollars in 1984 $2,933,113.27 dollars in 2023
Cumulative inflation From 1984 202.92%
Avg. annual inflation From 1984 2.81%
CPI 1984 103.88
CPI today 314.69

Value of Dollar over time (by year)

Period Value
1984 100
1985 103.55
1986 105.51
1987 109.38
1988 113.84
1989 119.33
1990 125.77
1991 131.1
1992 135.07
1993 139.06
1994 142.68
1995 146.69
1996 150.99
1997 154.52
1998 156.91
1999 160.35
2000 165.76
2001 170.45
2002 173.15
2003 177.08
2004 181.82
2005 187.99
2006 194.06
2007 199.59
2008 207.25
2009 206.52
2010 209.9
2011 216.53
2012 221.01
2013 224.25
2014 227.89
2015 228.16
2016 231.04
2017 235.96
2018 241.72
2019 246.1
2020 249.14
2021 260.84
2022 281.71
2023 293.31
2024-05 302.33
Today 302.92

All available years

Today's value of US dollars by year:

1913 | 1914 | 1915 | 1916 | 1917 | 1918 | 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | 1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 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 | 2022 | 2023 |

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