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Value of 2003 US Dollars today

$100 in 2003
$171.09 in 2024

The inflation rate in the United States between 2003 and today has been 71.09%, which translates into a total increase of $71.09. This means that 100 dollars in 2003 are equivalent to 171.09 dollars in 2024. In other words, the purchasing power of $100 in 2003 equals $171.09 today. The average annual inflation rate between these periods has been 2.59%.

Inflation timeline in the United States (2003 - 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 2003-2023 65.64%
Cumulative inflation 2003-today 71.09%
Avg. Annual inflation 2003-2023 2.56%
CPI 2003 183.96
CPI 2023 304.7
CPI 2024-06 (latest official data) 314.18
CPI today 314.74

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 2003 and 2023, use the corresponding CPI values:

Value2023
=Value2003 ×
CPI2023/CPI2003
=$ 100 ×
304.7/183.96
$165.64

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 314.74:

Valuetoday
=Value2003 ×
CPItoday/CPI2003
=$ 100 ×
314.74/183.96
$171.09

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 20 years between 2003 and 2023 and the average inflation rate was 2.5552%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.025552)20
$165.64

US inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 2003 $1.66 dollars in 2023
$5 dollars in 2003 $8.28 dollars in 2023
$10 dollars in 2003 $16.56 dollars in 2023
$50 dollars in 2003 $82.82 dollars in 2023
$100 dollars in 2003 $165.64 dollars in 2023
$500 dollars in 2003 $828.18 dollars in 2023
$1,000 dollars in 2003 $1,656.36 dollars in 2023
$5,000 dollars in 2003 $8,281.81 dollars in 2023
$10,000 dollars in 2003 $16,563.62 dollars in 2023
$50,000 dollars in 2003 $82,818.1 dollars in 2023
$100,000 dollars in 2003 $165,636.19 dollars in 2023
$500,000 dollars in 2003 $828,180.97 dollars in 2023
$1,000,000 dollars in 2003 $1,656,361.95 dollars in 2023
Cumulative inflation From 2003 71.09%
Avg. annual inflation From 2003 2.59%
CPI 2003 183.96
CPI today 314.74

Value of Dollar over time (by year)

Period Value
2003 100
2004 102.68
2005 106.16
2006 109.59
2007 112.71
2008 117.04
2009 116.62
2010 118.54
2011 122.28
2012 124.81
2013 126.64
2014 128.69
2015 128.84
2016 130.47
2017 133.25
2018 136.5
2019 138.98
2020 140.69
2021 147.3
2022 159.09
2023 165.64
2024-06 170.79
Today 171.09

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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