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Value of 1994 US Dollars today

$899 in 1994
$1,886.71 in 2024

The inflation rate in the United States between 1994 and today has been 109.87%, which translates into a total increase of $987.71. This means that 899 dollars in 1994 are equivalent to 1,886.71 dollars in 2024. In other words, the purchasing power of $899 in 1994 equals $1,886.71 today. The average annual inflation rate between these periods has been 2.5%.

Inflation timeline in the United States (1994 - 2024)

The following chart depicts the equivalence of $899 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 109.87%
Avg. Annual inflation 1994-2023 2.52%
CPI 1994 62.54
CPI 2023 128.56
CPI 2024-02 (latest official data) 130.93
CPI today 131.25

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
=$ 899 ×
128.56/62.54
$1,848.05

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 131.25:

Valuetoday
=Value1994 ×
CPItoday/CPI1994
=$ 899 ×
131.25/62.54
$1,886.71

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 $899 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
=$899 × (1 + 0.02516)29
$1,848.05

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 109.87%
Avg. annual inflation From 1994 2.5%
CPI 1994 62.54
CPI today 131.25

Value of Dollar over time (by year)

Period Value
1994 899
1995 924.22
1996 951.31
1997 973.55
1998 988.66
1999 1,010.29
2000 1,044.41
2001 1,073.93
2002 1,090.96
2003 1,115.73
2004 1,145.6
2005 1,184.46
2006 1,222.67
2007 1,257.55
2008 1,305.83
2009 1,301.19
2010 1,322.53
2011 1,364.28
2012 1,392.51
2013 1,412.91
2014 1,435.83
2015 1,437.53
2016 1,455.67
2017 1,486.68
2018 1,522.99
2019 1,550.59
2020 1,569.72
2021 1,643.46
2022 1,774.98
2023 1,848.05
2024-02 1,882.16
Today 1,886.71

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 |

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