The cumulative inflation rate in the United States between 2003 and today has been 83.57%, meaning that prices are 1.8 times higher than they were in 2003. In practical terms, the purchasing power of $5 in 2003 is equivalent to $9.18 in today's dollars. The average annual inflation rate over this period has been 3.08%.
The chart below shows how the value of $5 changes over time when adjusted for inflation, based on Consumer Price Index (CPI) data. All values are equivalent in terms of purchasing power, indicating how much money would be needed each year to buy the same goods or services.
All calculations are performed in US dollars with six-decimal precision, though displayed values are rounded to two decimals for readability. Inflation figures are sourced from official government and international reports released monthly. To convert historical amounts into today's dollars, we use the most recent CPI data available and extrapolate it to estimate the CPI for today.
The following table contains relevant indicators:
| Indicator | Value |
|---|---|
| Cumulative inflation 2003-2022 | 59.09% |
| Cumulative inflation 2003-today | 83.57% |
| Avg. annual inflation 2003-2022 | 2.47% |
| CPI 2003 | 183.96 |
| CPI 2022 | 292.65 |
| CPI Sep 2026 (latest official data) | 336.94 |
| CPI today | 337.7 |
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.
When we have both the start and end years, we can use the following formula:
To obtain the values equivalent in buying power between 2003 and 2022, use the corresponding CPI values:
To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 337.7:
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:
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 $5 worth today. There are 19 years between 2003 and 2022 and the average inflation rate was 2.4737%. Therefore, we can resolve the formula like this:
| Initial Value | Today | |
|---|---|---|
| $1 dollar in 2003 | → | $1.84 |
| $5 dollars in 2003 | → | $9.18 |
| $10 dollars in 2003 | → | $18.36 |
| $50 dollars in 2003 | → | $91.79 |
| $100 dollars in 2003 | → | $183.57 |
| $500 dollars in 2003 | → | $917.87 |
| $1,000 dollars in 2003 | → | $1,835.74 |
| $5,000 dollars in 2003 | → | $9,178.68 |
| $10,000 dollars in 2003 | → | $18,357.37 |
| $50,000 dollars in 2003 | → | $91,786.84 |
| $100,000 dollars in 2003 | → | $183,573.68 |
| $500,000 dollars in 2003 | → | $917,868.38 |
| $1,000,000 dollars in 2003 | → | $1.84M |
| Cumulative inflation From 2003 | 83.57% |
| Avg. annual inflation From 2003 | 3.08% |
| CPI 2003 | 183.96 |
| CPI today | 337.7 |
20 years · scroll the table for more ↓
| Period | Value |
|---|---|
| 2003 | $5.00 |
| 2004 | $5.13 |
| 2005 | $5.31 |
| 2006 | $5.48 |
| 2007 | $5.64 |
| 2008 | $5.85 |
| 2009 | $5.83 |
| 2010 | $5.93 |
| 2011 | $6.11 |
| 2012 | $6.24 |
| 2013 | $6.33 |
| 2014 | $6.43 |
| 2015 | $6.44 |
| 2016 | $6.52 |
| 2017 | $6.66 |
| 2018 | $6.83 |
| 2019 | $6.95 |
| 2020 | $7.03 |
| 2021 | $7.36 |
| 2022 | $7.95 |
| Sep 2026 | $9.16 |
| Today | $9.18 |
All available years
Today's value of US dollars by year:
Other currencies