$

Value of 1994 US Dollars today

$100 in 1994
$211.08 in 2024

The inflation rate in the United States between 1994 and today has been 111.08%, which translates into a total increase of $111.08. This means that 100 dollars in 1994 are equivalent to 211.08 dollars in 2024. In other words, the purchasing power of $100 in 1994 equals $211.08 today. The average annual inflation rate between these periods has been 2.52%.

Inflation timeline in the United States (1994 - 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 1994-2023 105.57%
Cumulative inflation 1994-today 111.08%
Avg. Annual inflation 1994-2023 2.52%
CPI 1994 62.54
CPI 2023 128.56
CPI 2024-03 (latest official data) 131.78
CPI today 132

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 1994 and 2023, use the corresponding CPI values:

Value2023
=Value1994 ×
CPI2023/CPI1994
=$ 100 ×
128.56/62.54
$205.57

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 132:

Valuetoday
=Value1994 ×
CPItoday/CPI1994
=$ 100 ×
132/62.54
$211.08

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 29 years between 1994 and 2023 and the average inflation rate was 2.516%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.02516)29
$205.57

US inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1994 $2.06 dollars in 2023
$5 dollars in 1994 $10.28 dollars in 2023
$10 dollars in 1994 $20.56 dollars in 2023
$50 dollars in 1994 $102.78 dollars in 2023
$100 dollars in 1994 $205.57 dollars in 2023
$500 dollars in 1994 $1,027.84 dollars in 2023
$1,000 dollars in 1994 $2,055.67 dollars in 2023
$5,000 dollars in 1994 $10,278.35 dollars in 2023
$10,000 dollars in 1994 $20,556.7 dollars in 2023
$50,000 dollars in 1994 $102,783.5 dollars in 2023
$100,000 dollars in 1994 $205,567.01 dollars in 2023
$500,000 dollars in 1994 $1,027,835.05 dollars in 2023
$1,000,000 dollars in 1994 $2,055,670.09 dollars in 2023
Cumulative inflation From 1994 111.08%
Avg. annual inflation From 1994 2.52%
CPI 1994 62.54
CPI today 132

Value of Dollar over time (by year)

Period Value
1994 100
1995 102.81
1996 105.82
1997 108.29
1998 109.97
1999 112.38
2000 116.17
2001 119.46
2002 121.35
2003 124.11
2004 127.43
2005 131.75
2006 136
2007 139.88
2008 145.25
2009 144.74
2010 147.11
2011 151.76
2012 154.9
2013 157.16
2014 159.71
2015 159.9
2016 161.92
2017 165.37
2018 169.41
2019 172.48
2020 174.61
2021 182.81
2022 197.44
2023 205.57
2024-03 210.71
Today 211.08

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 | 2022 | 2023 |

Other currencies: