$100 in 1954 is worth $702 in 2004,
because prices increased 602.2% over that period, an average of
3.98% a year.
$100 in 1954 has
the same buying power as
$702
in 2004
Detailed inflation statistics
Cumulative price change
602.2%
Average inflation rate
3.98% per year
Converted amount ($100 base)
$702
Price difference ($100 base)
$602
CPI in 1954
26.9
CPI in 2004
188.9
Inflation in 1954
0.75%
Inflation in 2004
2.66%
$100 in 1954 → 2004
$702
$100 in 2004 → 1954
$14.24
What happened to prices between 1954 and 2004
Between 1954 and 2004, the Consumer Price Index went from 26.9 to 188.9.
Cumulatively, prices increased 602.2%, which works out to an average of
3.98% per year. Put differently, a dollar in 1954 bought what
$0.14 buys in 2004: the 1954 dollar
lost 85.8% of its purchasing power over
these 50 years.
Consumer prices rose 0.7% in 1954, extending 1953’s 0.8%
slowdown even as the economy tipped into recession, an early example of
prices continuing to rise through a downturn rather than falling with it.
The National Bureau of Economic Research dates that recession from July
1953 to May 1954, as defense spending fell after the Korean War armistice
and the tighter monetary policy of the year before worked its way through
the economy. The Supreme Court reshaped a different part of American life
that spring: its unanimous May 17 ruling in Brown v. Board of Education
held that “separate but equal” public schools violated the Constitution,
overturning the legal basis for segregated education. Washington also
closed the book on a different fight that year. Following the televised
Army-McCarthy hearings that spring, the Senate voted 67 to 22 on December
2 to condemn Senator Joseph McCarthy’s conduct, ending his dominance of
American politics after four years of anti-communist investigations.
Consumer prices finished 1954 171.7% above their 1913
level, essentially flat with 1953 as the mild recession
held the cost of living in check. First-class postage held at 3 cents,
and the minimum wage stayed at 75 cents an hour.
Every 1954 amount converts to 2004 at the same ratio, 7.02: $1,000 becomes
$7,022, and $10,000 becomes $70,223.
Amount in 1954
Value in 2004
$1.00
$7.02
$5.00
$35.11
$10.00
$70.22
$20.00
$140
$50.00
$351
$100
$702
$500
$3,511
$1,000
$7,022
$5,000
$35,112
$10,000
$70,223
$100,000
$702,230
$1,000,000
$7,022,305
Inflation by spending category, 1954–2004
Between 1954 and 2004, medical care rose the most, up 1642.1%, while apparel rose the least, up 179.4%, against 602.2% for all items. The headline number is an average; here is what $100 of 1954
spending costs in 2004, by category:
Category
Avg. yearly inflation
$100 in 1954 →
All items (CPI-U)
3.98%
$702
Medical care
5.88%
$1,742
Food
3.85%
$660
Transportation
3.73%
$625
Apparel
2.08%
$279
Not shown because the BLS began these indexes after 1954: core (all items less food & energy) (1957–), energy (1957–), housing (1967–), recreation (1993–), education & communication (1993–).
Decade by decade: 1954 to 2004
Prices climbed fastest in the 1970s, averaging 7.82% a year, and slowest in the 1950s (1.61% a year). Each step below chains into the full 1954–2004 change:
Years
Avg. yearly inflation
Price change
$100 from 1954, at end
1954–1960
1.61%
10.0%
$110
1960–1970
2.74%
31.1%
$144
1970–1980
7.82%
112.4%
$306
1980–1990
4.72%
58.6%
$486
1990–2000
2.80%
31.8%
$640
2000–2004
2.34%
9.7%
$702
Year by year: CPI and the value of $100 from 1954
$100 from 1954 had already become $242 by
1978, on its way to $702 in 2004; 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: 2004
In 2004, prices rose 2.7% and $100 from 1954 had the buying
power of $702; the year's average CPI of 188.9 is the level
behind every 2004 figure on this page.
Consumer prices rose 2.7% in 2004, with a 29-cent jump in the price of gasoline, to $1.88 a
gallon, doing much of the work. Crude oil passed $50 a barrel in October on rising demand
from China and India. The Federal Reserve raised rates for the first time in four years on
June 30, to 1.25%, and it kept going: 17 consecutive quarter-point increases took the rate to
5.25% by June 2006. Housing was already running ahead of incomes. The median household earned
about $44,300, up 2.3% from 2003, while the median new home sold for $221,000, up about 13%. A
first-class stamp stayed at 37 cents and the federal minimum wage at $5.15, unchanged since
1997.
MLA: “Inflation from 1954 to 2004: $100 is worth $702 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1954-to-2004/
APA: InflationCalculator.com. Inflation from 1954 to 2004. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1954-to-2004/