According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 3.14% per year. Prices in 2016 are 2101.9% higher than prices in 1916.
In other words, $3,000 in the year 1916 is equivalent in purchasing power to $66,056.97 in 2016, a difference of $63,056.97 over 100 years.
The inflation rate in 2016 was 1.26%.
|Cumulative price change||2101.90%|
|Average inflation rate||3.14%|
|Price difference ($3,000 base)||$63,056.97|
|CPI in 1916||10.9|
|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: “$3,000 in 1916 → 2016 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 26 May. 2018, https://www.officialdata.org/1916-dollars-in-2016?amount=3000.