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Value of 2008 US Dollars today

$100 in 2008
$142.94 in 2024

The inflation rate in the United States between 2008 and today has been 42.94%, which translates into a total increase of $42.94. This means that 100 dollars in 2008 are equivalent to 142.94 dollars in 2024. In other words, the purchasing power of $100 in 2008 equals $142.94 today. The average annual inflation rate between these periods has been 2.26%.

Inflation timeline in the United States (2008 - 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 2008-2023 41.52%
Cumulative inflation 2008-today 42.94%
Avg. Annual inflation 2008-2023 2.34%
CPI 2008 90.84
CPI 2023 128.56
CPI 2023-12 (latest official data) 129.42
CPI today 129.85

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 2008 and 2023, use the corresponding CPI values:

Value2023
=Value2008 ×
CPI2023/CPI2008
=$ 100 ×
128.56/90.84
$141.52

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 129.85:

Valuetoday
=Value2008 ×
CPItoday/CPI2008
=$ 100 ×
129.85/90.84
$142.94

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 15 years between 2008 and 2023 and the average inflation rate was 2.3423%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.023423)15
$141.52

US inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 2008 $1.42 dollars in 2023
$5 dollars in 2008 $7.08 dollars in 2023
$10 dollars in 2008 $14.15 dollars in 2023
$50 dollars in 2008 $70.76 dollars in 2023
$100 dollars in 2008 $141.52 dollars in 2023
$500 dollars in 2008 $707.61 dollars in 2023
$1,000 dollars in 2008 $1,415.23 dollars in 2023
$5,000 dollars in 2008 $7,076.13 dollars in 2023
$10,000 dollars in 2008 $14,152.26 dollars in 2023
$50,000 dollars in 2008 $70,761.3 dollars in 2023
$100,000 dollars in 2008 $141,522.61 dollars in 2023
$500,000 dollars in 2008 $707,613.03 dollars in 2023
$1,000,000 dollars in 2008 $1,415,226.07 dollars in 2023
Cumulative inflation From 2008 42.94%
Avg. annual inflation From 2008 2.26%
CPI 2008 90.84
CPI today 129.85

Value of Dollar over time (by year)

Period Value
2008 100
2009 99.64
2010 101.28
2011 104.48
2012 106.64
2013 108.2
2014 109.96
2015 110.09
2016 111.47
2017 113.85
2018 116.63
2019 118.74
2020 120.21
2021 125.86
2022 135.93
2023 141.52
2023-12 142.47
Today 142.94

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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