# \$3,000 in 1916 → \$66,056.97 in 2016

## Inflation Calculator

\$

### U.S. Inflation Rate, 1916-2016 (\$3,000)

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

#### Inflation rates for specific categories

Wine at home · Public transportation · Fish and seafood · More

S&P 500 price · S&P 500 earnings · Shiller P/E

### How to calculate the inflation rate for \$3,000, 1916 to 2016

This inflation calculator uses the following inflation rate formula:

CPI in 2016 / CPI in 1916 * 1916 USD value = 2016 USD value

Then plug in historical CPI values. The U.S. CPI was 10.9 in the year 1916 and 240.007 in 2016:

240.007 / 10.9 * \$3,000 = \$66,056.97

\$3,000 in 1916 has the same "purchasing power" as \$66,056.97 in 2016.

### News headlines from 1916

Politics and news often influence economic performance. Here's what was happening at the time:

• Ottoman forces successfully defend access to Constantinople, leading to ANZAC forces withdrawal from the Gallipoli Peninsula.
• An estimated 1 million men are killed during the Battle of Verdun.
• The Easter Rising ends after Irish republicans abandon the post office in Dublin and surrenders.
• Tanks known as 'Little Willies' are used for the first time at the Battle of the Somme.
• The first aerial combat in France is won by Manfred von Richthofen, known as The Red Baron, German Luftstreitkrafte flying ace.

### Inflation Data Source

Raw data for these calculations comes from the Bureau of Labor Statistics' (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.