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Value of 2002 US Dollars today

$116,000 in 2002
$202,725.47 in 2024

The inflation rate in the United States between 2002 and today has been 74.76%, which translates into a total increase of $86,725.47. This means that 116,000 dollars in 2002 are equivalent to 202,725.47 dollars in 2024. In other words, the purchasing power of $116,000 in 2002 equals $202,725.47 today. The average annual inflation rate between these periods has been 2.57%.

Inflation timeline in the United States (2002 - 2024)

The following chart depicts the equivalence of $116,000 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 2002-2023 69.4%
Cumulative inflation 2002-today 74.76%
Avg. Annual inflation 2002-2023 2.54%
CPI 2002 179.88
CPI 2023 304.7
CPI 2024-04 (latest official data) 313.55
CPI today 314.36

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 2002 and 2023, use the corresponding CPI values:

Value2023
=Value2002 ×
CPI2023/CPI2002
=$ 116,000 ×
304.7/179.88
$196,499.7

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 314.36:

Valuetoday
=Value2002 ×
CPItoday/CPI2002
=$ 116,000 ×
314.36/179.88
$202,725.47

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 $116,000 worth today. There are 21 years between 2002 and 2023 and the average inflation rate was 2.5416%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$116,000 × (1 + 0.025416)21
$196,499.7

US inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 2002 $1.69 dollars in 2023
$5 dollars in 2002 $8.47 dollars in 2023
$10 dollars in 2002 $16.94 dollars in 2023
$50 dollars in 2002 $84.7 dollars in 2023
$100 dollars in 2002 $169.4 dollars in 2023
$500 dollars in 2002 $846.98 dollars in 2023
$1,000 dollars in 2002 $1,693.96 dollars in 2023
$5,000 dollars in 2002 $8,469.81 dollars in 2023
$10,000 dollars in 2002 $16,939.63 dollars in 2023
$50,000 dollars in 2002 $84,698.15 dollars in 2023
$100,000 dollars in 2002 $169,396.29 dollars in 2023
$500,000 dollars in 2002 $846,981.47 dollars in 2023
$1,000,000 dollars in 2002 $1,693,962.94 dollars in 2023
Cumulative inflation From 2002 74.76%
Avg. annual inflation From 2002 2.57%
CPI 2002 179.88
CPI today 314.36

Value of Dollar over time (by year)

Period Value
2002 116,000
2003 118,633.31
2004 121,809.4
2005 125,942.09
2006 130,004.91
2007 133,713.53
2008 138,846.92
2009 138,353.26
2010 140,622.31
2011 145,061.53
2012 148,063.35
2013 150,232.23
2014 152,669.33
2015 152,850.44
2016 154,778.77
2017 158,075.73
2018 161,936.86
2019 164,871.5
2020 166,905.32
2021 174,746.3
2022 188,730.9
2023 196,499.7
2024-04 202,204.69
Today 202,725.47

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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