According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 3.02% per year. Prices in 2016 are 2391.2% higher than prices in 1908.
In other words, $5 in 1908 is equivalent in purchasing power to $124.56 in 2016, a difference of $119.56 over 108 years.
The inflation rate in 2016 was 1.26%.
|Cumulative price change||2391.20%|
|Average inflation rate||3.02%|
|Converted amount ($5 base)||$124.56|
|Price difference ($5 base)||$119.56|
|CPI in 2016||240.007|
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: “$5 in 1908 → 2016 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 20 Jun. 2018, https://www.officialdata.org/1908-dollars-in-2016?amount=5.