# \$23 in 1972 → \$132.06 in 2016

## Inflation Calculator

\$

### U.S. Inflation Rate, 1972-2016 (\$23)

According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 4.05% per year. Prices in 2016 are 474.2% higher than prices in 1972.

In other words, \$23 in the year 1972 is equivalent in purchasing power to \$132.06 in 2016, a difference of \$109.06 over 44 years.

The inflation rate in 2016 was 1.26%.

 Cumulative price change 474.17% Average inflation rate 4.05% Price difference (\$23 base) \$109.06 CPI in 1972 41.8 CPI in 2016 240.007

#### Inflation rates for specific categories

Medical care · Legal services · Juices and nonalcoholic drinks · More

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

### How to calculate the inflation rate for \$23, 1972 to 2016

This inflation calculator uses the following inflation rate formula:

CPI in 2016 / CPI in 1972 * 1972 USD value = 2016 USD value

Then plug in historical CPI values. The U.S. CPI was 41.8 in the year 1972 and 240.007 in 2016:

240.007 / 41.8 * \$23 = \$132.06

\$23 in 1972 has the same "purchasing power" as \$132.06 in 2016.

### News headlines from 1972

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

• The US's costliest natural disaster, Hurricane Agnes, causes 119 deaths and \$3 billion damage.
• The US Senate,ratifies the first Anti-Ballistic Missile Treaty.
• A member of the terrorist group Black September kills eleven Israeli athletes at the Munich Olympics.
• Pong, the first commercially successful video game is released by the co-founder of Atari.

### 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: “\$23 in 1972 → 2016 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 24 May. 2018, https://www.officialdata.org/1972-dollars-in-2016?amount=23.