According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 3.66% per year. Prices in 2016 are 321.8% higher than prices in 1976.
In other words, $6,000,000 in 1976 is equivalent in purchasing power to $25,308,295.25 in 2016, a difference of $19,308,295.25 over 40 years.
The inflation rate in 2016 was 1.26%.
|Cumulative price change||321.80%|
|Average inflation rate||3.66%|
|Converted amount ($6,000,000 base)||$25,308,295.25|
|Price difference ($6,000,000 base)||$19,308,295.25|
|CPI in 1976||56.9|
|CPI in 2016||240.007|
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: “$6,000,000 in 1976 → 2016 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 20 Jun. 2018, https://www.officialdata.org/1976-dollars-in-2016?amount=6000000.