According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 3.61% per year. Prices in 2018 are 831.2% higher than prices in 1955.
In other words, $3,000 in the year 1955 is equivalent in purchasing power to $27,935.15 in 2018, a difference of $24,935.15 over 63 years.
Compared to last year's annual rate, the inflation rate in 2018 is now 1.95%1. If this number holds, $3,000 today would be equivalent to $3,058.43 next year. The current inflation rate page gives more detail on the latest official inflation rates.
|Cumulative price change||831.17%|
|Average inflation rate||3.61%|
|Price difference ($3,000 base)||$24,935.15|
|CPI in 1955||26.8|
|CPI in 2018||249.554|
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 1955 → 2018 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 25 May. 2018, https://www.officialdata.org/1955-dollars?amount=3000.