According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 2.94% per year. Prices in 2017 are 2544.6% higher than prices in 1904.
In other words, $65,000 in the year 1904 is equivalent in purchasing power to $1,718,984.24 in 2017, a difference of $1,653,984.24 over 113 years.
The inflation rate in 2017 was 1.99%.
|Cumulative price change||2544.59%|
|Average inflation rate||2.94%|
|Price difference ($65,000 base)||$1,653,984.24|
|CPI in 2017||244.786|
Politics and news often influence economic performance. Here's what was happening at the time:
Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (CPI), established in 1913. Inflation data from 1665 to 1912 is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University.
You may use the following MLA citation for this page: “$65,000 in 1904 → 2017 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 24 May. 2018, https://www.officialdata.org/1904-dollars-in-2017?amount=65000.