According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 3.78% per year. Prices in 2017 are 727.0% higher than prices in 1960.
In other words, $1 in 1960 is equivalent in purchasing power to $8.27 in 2017, a difference of $7.27 over 57 years.
The inflation rate in 2017 was 1.99%.
|Cumulative price change||727.00%|
|Average inflation rate||3.78%|
|Converted amount ($1 base)||$8.27|
|Price difference ($1 base)||$7.27|
|CPI in 1960||29.6|
|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: “$1 in 1960 → 2017 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 20 Jun. 2018, https://www.officialdata.org/1960-dollars-in-2017?amount=1.