According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 4.00% per year. Prices in 2017 are 530.8% higher than prices in 1970.
In other words, $9.50 in 1970 is equivalent in purchasing power to $59.93 in 2017, a difference of $50.43 over 47 years.
The inflation rate in 2017 was 1.99%.
|Cumulative price change||530.84%|
|Average inflation rate||4.00%|
|Converted amount ($9.50 base)||$59.93|
|Price difference ($9.50 base)||$50.43|
|CPI in 1970||38.8|
|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: “$9.50 in 1970 → 2017 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 22 Jun. 2018, https://www.officialdata.org/1970-dollars-in-2017?amount=9.50.