U.S. inflation rate in 2003: 2.28%

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Inflation since 2003 and its effect on dollar value

The consumer price index (CPI) in 2003 was 184. It was 179.9 in the previous year. This change in CPI is used by the Bureau of Labor Statistics to calculate inflation.

According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 2.11% per year. Prices in 2018 are 36.7% higher than prices in 2003.

In other words, $100 in 2003 is equivalent in purchasing power to $136.73 in 2018, a difference of $36.73 over 15 years.

The current inflation rate is now 2.80%1. If this number holds, $100 today will be equivalent to $102.80 next year. The current inflation rate page gives more detail on the latest official inflation rates.

Inflation from 2003 to 2018
Cumulative price change 36.73%
Average inflation rate 2.11%
Converted amount ($100 base) $136.73
Price difference ($100 base) $36.73
CPI in 2003 184
CPI in 2018 251.59


U.S. inflation from 1913 to 2018


Inflation rates for specific categories

Film and photographic supplies · Electricity · Alcoholic beverages · More

Inflation-adjusted measures

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

How to calculate the inflation rate for $100 since 2003

This inflation calculator uses the following inflation rate formula:

CPI in 2018 / CPI in 2003 * 2003 USD value = 2018 USD value

Then plug in historical CPI values. The U.S. CPI was 184 in the year 2003 and 251.59 in 2018:

251.59 / 184 * $100 = $136.73

$100 in 2003 has the same "purchasing power" or "buying power" as $136.73 in 2018.


Here are calculations of buying power over time for $100 in 2003 (price index tracking began in 1913). Each of these USD amounts below is equivalent in terms of what it could buy at the time:
Year USD Value Inflation Rate
2003 $100.00 2.28%
2004 $102.66 2.66%
2005 $106.14 3.39%
2006 $109.57 3.23%
2007 $112.69 2.85%
2008 $117.01 3.84%
2009 $116.60 -0.36%
2010 $118.51 1.64%
2011 $122.25 3.16%
2012 $124.78 2.07%
2013 $126.61 1.46%
2014 $128.66 1.62%
2015 $128.81 0.12%
2016 $130.44 1.26%
2017 $133.04 1.99%
2018 $136.73 2.78%*
* Not final. See inflation summary for latest details.

News headlines from 2003

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

  • Despite a lack of support from the United Nations, a coalition lead by America and Britain invades Iraq.
  • Baghdad falls, ending the invasion of Iraq.
  • 10 new members are admitted to the European Union after signing the Treaty of Accession in Athens.

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: “Inflation Rate in 2003 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 15 Jun. 2018, https://www.officialdata.org/inflation-rate-in-2003.


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