The inflation rate in the United States between January 2020 and February 2024 was 20.29%, which translates into a total increase of $20.29. This means that 100 dollars in January 2020 are equivalent to 120.29 dollars in February 2024. In other words, the purchasing power of $100 in Jan 2020 equals $120.29 in Feb 2024. The average annual inflation rate between these periods was 0.38%.
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.
The following table contains relevant indicators:
| Indicator | Value |
|---|---|
| Cumulative inflation from 2020-01 to 2024-02 | 20.29% |
| Avg. Monthly inflation from 2020-01 to 2024-02 | 0.38% |
| CPI 2020-01 | 257.97 |
| CPI 2024-02 | 310.33 |
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 months, we can use the following formula:
To obtain the values equivalent in buying power between January 2020 and February 2024, use the corresponding CPI values:
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 $100 worth today. There are 49 months between January 2020 and February 2024 and the average inflation rate was 0.3778%. Therefore, we can resolve the formula like this:
| Initial Value | Equivalent value | |
|---|---|---|
| $1 dollar in 2020-01 | → | $1.2 dollars in 2024-02 |
| $5 dollars in 2020-01 | → | $6.01 dollars in 2024-02 |
| $10 dollars in 2020-01 | → | $12.03 dollars in 2024-02 |
| $50 dollars in 2020-01 | → | $60.15 dollars in 2024-02 |
| $100 dollars in 2020-01 | → | $120.29 dollars in 2024-02 |
| $500 dollars in 2020-01 | → | $601.47 dollars in 2024-02 |
| $1,000 dollars in 2020-01 | → | $1,202.95 dollars in 2024-02 |
| $5,000 dollars in 2020-01 | → | $6,014.75 dollars in 2024-02 |
| $10,000 dollars in 2020-01 | → | $12,029.49 dollars in 2024-02 |
| $50,000 dollars in 2020-01 | → | $60,147.46 dollars in 2024-02 |
| $100,000 dollars in 2020-01 | → | $120,294.92 dollars in 2024-02 |
| $500,000 dollars in 2020-01 | → | $601,474.58 dollars in 2024-02 |
| $1,000,000 dollars in 2020-01 | → | $1,202,949.17 dollars in 2024-02 |
| Cumulative inflation Jan 2020-Feb 2024 | 20.29% |
| Avg. monthly inflation Jan 2020-Feb 2024 | 0.38% |
| CPI 2020-01 | 257.97 |
| CPI 2024-02 | 310.33 |
| Period | Value |
|---|---|
| 2020-01 | 100 |
| 2020-02 | 100.27 |
| 2020-03 | 100.06 |
| 2020-04 | 99.39 |
| 2020-05 | 99.39 |
| 2020-06 | 99.93 |
| 2020-07 | 100.44 |
| 2020-08 | 100.75 |
| 2020-09 | 100.9 |
| 2020-10 | 100.94 |
| 2020-11 | 100.88 |
| 2020-12 | 100.97 |
| 2021-01 | 101.4 |
| 2021-02 | 101.95 |
| 2021-03 | 102.68 |
| 2021-04 | 103.52 |
| 2021-05 | 104.35 |
| 2021-06 | 105.32 |
| 2021-07 | 105.83 |
| 2021-08 | 106.05 |
| 2021-09 | 106.33 |
| 2021-10 | 107.22 |
| 2021-11 | 107.74 |
| 2021-12 | 108.07 |
| 2022-01 | 108.98 |
| 2022-02 | 109.98 |
| 2022-03 | 111.45 |
| 2022-04 | 112.07 |
| 2022-05 | 113.31 |
| 2022-06 | 114.86 |
| 2022-07 | 114.85 |
| 2022-08 | 114.81 |
| 2022-09 | 115.05 |
| 2022-10 | 115.52 |
| 2022-11 | 115.4 |
| 2022-12 | 115.05 |
| 2023-01 | 115.97 |
| 2023-02 | 116.62 |
| 2023-03 | 117 |
| 2023-04 | 117.6 |
| 2023-05 | 117.89 |
| 2023-06 | 118.27 |
| 2023-07 | 118.5 |
| 2023-08 | 119.02 |
| 2023-09 | 119.31 |
| 2023-10 | 119.27 |
| 2023-11 | 119.03 |
| 2023-12 | 118.91 |
| 2024-01 | 119.55 |
| 2024-02 | 120.29 |
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 |
Other currencies:
