# \$1,000 in 1960 → \$8,430.88 in 2018

## Inflation Calculator

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### U.S. Inflation Rate, 1960-2018 (\$1,000)

According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 3.74% per year. Prices in 2018 are 743.1% higher than prices in 1960.

In other words, \$1,000 in the year 1960 is equivalent in purchasing power to \$8,430.88 in 2018, a difference of \$7,430.88 over 58 years.

Compared to last year's annual rate, the inflation rate in 2018 is now 1.95%1. If this number holds, \$1,000 today would be equivalent to \$1,019.48 next year. The current inflation rate page gives more detail on the latest official inflation rates.

 Cumulative price change 743.09% Average inflation rate 3.74% Price difference (\$1,000 base) \$7,430.88 CPI in 1960 29.6 CPI in 2018 249.554

#### Inflation rates for specific categories

Women's apparel · College tuition and fees · Hospital services · More

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

### How to calculate the inflation rate for \$1,000 since 1960

This inflation calculator uses the following inflation rate formula:

CPI in 2018 / CPI in 1960 * 1960 USD value = 2018 USD value

Then plug in historical CPI values. The U.S. CPI was 29.6 in the year 1960 and 249.554 in 2018:

249.554 / 29.6 * \$1,000 = \$8,430.88

\$1,000 in 1960 has the same "purchasing power" as \$8,430.88 in 2018.