$100 in 1951 is worth $943 in 2017,
because prices increased 842.8% over that period, an average of
3.46% a year.
$100 in 1951 has
the same buying power as
$943
in 2017
Detailed inflation statistics
Cumulative price change
842.8%
Average inflation rate
3.46% per year
Converted amount ($100 base)
$943
Price difference ($100 base)
$843
CPI in 1951
26
CPI in 2017
245.12
Inflation in 1951
7.88%
Inflation in 2017
2.13%
$100 in 1951 → 2017
$943
$100 in 2017 → 1951
$10.61
What happened to prices between 1951 and 2017
Between 1951 and 2017, the Consumer Price Index went from 26 to 245.12.
Cumulatively, prices increased 842.8%, which works out to an average of
3.46% per year. Put differently, a dollar in 1951 bought what
$0.11 buys in 2017: the 1951 dollar
lost 89.4% of its purchasing power over
these 66 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 2017 at the same ratio, 9.43: $1,000 becomes
$9,428, and $10,000 becomes $94,277.
Amount in 1951
Value in 2017
$1.00
$9.43
$5.00
$47.14
$10.00
$94.28
$20.00
$189
$50.00
$471
$100
$943
$500
$4,714
$1,000
$9,428
$5,000
$47,138
$10,000
$94,277
$100,000
$942,769
$1,000,000
$9,427,692
Inflation by spending category, 1951–2017
Between 1951 and 2017, medical care rose the most, up 2889.4%, while apparel rose the least, up 186.1%, against 842.8% for all items. The headline number is an average; here is what $100 of 1951
spending costs in 2017, by category:
Category
Avg. yearly inflation
$100 in 1951 →
All items (CPI-U)
3.46%
$943
Medical care
5.28%
$2,989
Food
3.36%
$887
Transportation
3.27%
$836
Apparel
1.61%
$286
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 2017
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 1951–2017 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
2000–2010
2.39%
26.6%
$839
2010–2017
1.69%
12.4%
$943
Year by year: CPI and the value of $100 from 1951
$100 from 1951 had already become $422 by
1986, on its way to $943 in 2017; 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 5 years; the calculator above covers any pair of years.
The destination year: 2017
In 2017, prices rose 2.1% and $100 from 1951 had the buying
power of $943; the year's average CPI of 245.12 is the level
behind every 2017 figure on this page.
2017 pushed consumer prices back above the Federal Reserve’s 2% target. The
CPI rose 2.1%, the first reading over 2% in five years, helped by a rebound
in energy after OPEC’s output cuts and by a storm-related spike at the pump:
Hurricane Harvey shut a large part of Gulf Coast refining in late August.
Gasoline averaged $2.42 a gallon, up from $2.14 in 2016.
Household incomes kept rising. The median household income reached $61,372,
and the median new home sold for about $322,100. The federal minimum wage
stayed at $7.25, its eighth year at that level, and a first-class stamp rose
to 49 cents.
The Fed raised rates three times, to 1.25–1.50%, and in October began
letting its bond holdings shrink. Congress passed the Tax Cuts and Jobs Act
in December, lowering the corporate rate to 21%. Even with unemployment near
4%, core inflation stayed under 2%, a puzzle that shaped Fed debates for the
next two years.
MLA: “Inflation from 1951 to 2017: $100 is worth $943 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1951-to-2017/
APA: InflationCalculator.com. Inflation from 1951 to 2017. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1951-to-2017/