$100 in 1951 is worth $681 in 2001,
because prices increased 581.2% over that period, an average of
3.91% a year.
$100 in 1951 has
the same buying power as
$681
in 2001
Detailed inflation statistics
Cumulative price change
581.2%
Average inflation rate
3.91% per year
Converted amount ($100 base)
$681
Price difference ($100 base)
$581
CPI in 1951
26
CPI in 2001
177.1
Inflation in 1951
7.88%
Inflation in 2001
2.85%
$100 in 1951 → 2001
$681
$100 in 2001 → 1951
$14.68
What happened to prices between 1951 and 2001
Between 1951 and 2001, the Consumer Price Index went from 26 to 177.1.
Cumulatively, prices increased 581.2%, which works out to an average of
3.91% per year. Put differently, a dollar in 1951 bought what
$0.15 buys in 2001: the 1951 dollar
lost 85.3% of its purchasing power over
these 50 years.
Consumer prices rose 7.9% in 1951, up sharply from 1950’s
1.3% and the fastest increase since 1947, as Korean War buying and a
defense spending surge hit an economy still adjusting to peacetime. Much
of the jump came early in the year, before the government stepped in: the
Office of Price Stabilization imposed a general ceiling on prices January
26, and the Wage Stabilization Board froze wages soon after, the broadest
peacetime controls since the war began that June. The year’s more lasting
change came in monetary policy. On March 4, the Treasury and the Federal
Reserve signed the Accord, ending the Fed’s wartime obligation to hold
down interest rates on government bonds and freeing the central bank to
fight inflation on its own terms for the first time since 1942, a shift
that would shape Fed independence for decades. Congress raised taxes that
October to help pay for the war: the Revenue Act of 1951, signed October
20, lifted individual and corporate income taxes along with a range of
excise taxes, the third increase in taxes since fighting began in Korea.
Consumer prices finished 1951 162.6% above their 1913
level. First-class postage held at 3 cents, and the minimum wage stayed at
75 cents an hour.
Every 1951 amount converts to 2001 at the same ratio, 6.81: $1,000 becomes
$6,812, and $10,000 becomes $68,115.
Amount in 1951
Value in 2001
$1.00
$6.81
$5.00
$34.06
$10.00
$68.12
$20.00
$136
$50.00
$341
$100
$681
$500
$3,406
$1,000
$6,812
$5,000
$34,058
$10,000
$68,115
$100,000
$681,154
$1,000,000
$6,811,538
Inflation by spending category, 1951–2001
Between 1951 and 2001, medical care rose the most, up 1615.7%, while apparel rose the least, up 190.0%, against 581.2% for all items. The headline number is an average; here is what $100 of 1951
spending costs in 2001, by category:
Category
Avg. yearly inflation
$100 in 1951 →
All items (CPI-U)
3.91%
$681
Medical care
5.85%
$1,716
Transportation
3.78%
$640
Food
3.70%
$614
Apparel
2.15%
$290
Not shown because the BLS began these indexes after 1951: core (all items less food & energy) (1957–), energy (1957–), housing (1967–), recreation (1993–), education & communication (1993–).
Decade by decade: 1951 to 2001
Prices climbed fastest in the 1970s, averaging 7.82% a year, and slowest in the 1950s (1.45% a year). Each step below chains into the full 1951–2001 change:
Years
Avg. yearly inflation
Price change
$100 from 1951, at end
1951–1960
1.45%
13.8%
$114
1960–1970
2.74%
31.1%
$149
1970–1980
7.82%
112.4%
$317
1980–1990
4.72%
58.6%
$503
1990–2000
2.80%
31.8%
$662
2000–2001
2.85%
2.8%
$681
Year by year: CPI and the value of $100 from 1951
$100 from 1951 had already become $207 by
1975, on its way to $681 in 2001; each row shows the CPI, that
year's inflation rate, and the running value.
Within the span, inflation peaked at 13.5% in 1980, and prices fell 0.4% in 1955, the deepest deflation of the period.
Long periods are sampled every 2 years; the calculator above covers any pair of years.
The destination year: 2001
In 2001, prices rose 2.8% and $100 from 1951 had the buying
power of $681; the year's average CPI of 177.1 is the level
behind every 2001 figure on this page.
Inflation fell to 2.8% in 2001 from 3.4% the year before, as a recession that began in March
cut demand and gasoline slid to an average of $1.46 a gallon. The median household earned about
$42,200, roughly flat from 2000, and a new home cost about $175,200. The Federal Reserve cut its
policy rate 11 times over the year, from 6.5% to 1.75%, the lowest since 1961. After the
September 11 attacks, U.S. stock markets closed for four trading days, and air travel dropped
sharply until the following year. Congress had already passed a $1.35 trillion tax cut in June,
which included rebate checks of up to $600. The National Bureau of Economic Research dates the
recession’s end at November, but unemployment kept rising into 2003. A first-class stamp went to
34 cents in January, and the federal minimum wage stayed at $5.15. The Fed’s cuts were the
first step in a long period of very cheap borrowing that would fuel the housing boom.
MLA: “Inflation from 1951 to 2001: $100 is worth $681 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1951-to-2001/
APA: InflationCalculator.com. Inflation from 1951 to 2001. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1951-to-2001/