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# Value of 2016 US Dollars today

\$100 in 2016
\$128.19 in 2023

The inflation rate in the United States between 2016 and today has been 28.19%, which translates into a total increase of \$28.19. This means that 100 dollars in 2016 are equivalent to 128.19 dollars in 2023. In other words, the purchasing power of \$100 in 2016 equals \$128.19 today. The average annual inflation rate between these periods has been 3.61%.

## Inflation timeline in the United States (2016 - 2023)

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 2016-2022 21.94%
Cumulative inflation 2016-today 28.19%
Avg. Annual inflation 2016-2022 3.36%
CPI 2016 101.26
CPI 2022 123.47
CPI 2023-08 (latest official data) 129.54
CPI today 129.81

## 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 2016 and 2022, use the corresponding CPI values:

Value2022
=Value2016 ×
CPI2022/CPI2016
=\$ 100 ×
123.47/101.26
\$121.94

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 129.81:

Valuetoday
=Value2016 ×
CPItoday/CPI2016
=\$ 100 ×
129.81/101.26
\$128.19

### 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 6 years between 2016 and 2022 and the average inflation rate was 3.3607%. Therefore, we can resolve the formula like this:

Value2022
=PV × (1 + i)n
=\$100 × (1 + 0.033607)6
\$121.94

## US inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 2016 \$1.22 dollars in 2022
\$5 dollars in 2016 \$6.1 dollars in 2022
\$10 dollars in 2016 \$12.19 dollars in 2022
\$50 dollars in 2016 \$60.97 dollars in 2022
\$100 dollars in 2016 \$121.94 dollars in 2022
\$500 dollars in 2016 \$609.68 dollars in 2022
\$1,000 dollars in 2016 \$1,219.36 dollars in 2022
\$5,000 dollars in 2016 \$6,096.79 dollars in 2022
\$10,000 dollars in 2016 \$12,193.59 dollars in 2022
\$50,000 dollars in 2016 \$60,967.93 dollars in 2022
\$100,000 dollars in 2016 \$121,935.86 dollars in 2022
\$500,000 dollars in 2016 \$609,679.29 dollars in 2022
\$1,000,000 dollars in 2016 \$1,219,358.57 dollars in 2022
 Cumulative inflation From 2016 28.19% Avg. annual inflation From 2016 3.61% CPI 2016 101.26 CPI today 129.81

### Value of Dollar over time (by year)

Period Value
2016 100
2017 102.13
2018 104.62
2019 106.52
2020 107.83
2021 112.9
2022 121.94
2023-08 127.92
Today 128.19

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 |

Other currencies: