U.S. inflation · 1962–2003

Value of $100 in 1962, adjusted to 2003

$100 in 1962 is worth $609 in 2003, because prices increased 509.3% over that period, an average of 4.51% a year.

$100 in 1962 has the same buying power as

$609

in 2003

$100$355$60919621972198319932003$100 · 1962$609 · 2003
Detailed inflation statistics
Cumulative price change509.3%
Average inflation rate4.51% per year
Converted amount ($100 base)$609
Price difference ($100 base)$509
CPI in 196230.2
CPI in 2003184
Inflation in 19621.00%
Inflation in 20032.28%
$100 in 1962 → 2003$609
$100 in 2003 → 1962$16.41

What happened to prices between 1962 and 2003

Between 1962 and 2003, the Consumer Price Index went from 30.2 to 184. Cumulatively, prices increased 509.3%, which works out to an average of 4.51% per year. Put differently, a dollar in 1962 bought what $0.16 buys in 2003: the 1962 dollar lost 83.6% of its purchasing power over these 41 years.

Consumer prices rose 1.0% in 1962, matching 1961’s pace as inflation stayed remarkably low and unemployment slowly declined from its recession-era highs. That January, Kennedy’s Council of Economic Advisers introduced “wage-price guideposts,” non-binding targets meant to keep pay and price increases in line with productivity growth without formal controls. The space race delivered a milestone that February, when John Glenn’s Friendship 7 capsule circled Earth three times, making him the first American to orbit the planet. Markets got a scare that spring: a dispute over U.S. Steel’s April price increase, which Kennedy publicly pressured the company into rolling back, rattled investors, and the Dow Jones Industrial Average fell about 5.7% on May 28, its steepest one-day drop since the 1929 crash. The year’s gravest moment came that October, when American reconnaissance photographed Soviet nuclear missiles in Cuba, setting off a 13-day standoff that brought the two superpowers closer to nuclear war than at any other point in the Cold War before the Soviet Union agreed to remove the missiles in exchange for a U.S. pledge not to invade the island. Consumer prices finished 1962 205.1% above their 1913 level. First-class postage held at 4 cents, and the minimum wage stayed at $1.15 an hour.

More about inflation in 1962 →

Common amounts: 1962 dollars in 2003

Every 1962 amount converts to 2003 at the same ratio, 6.09: $1,000 becomes $6,093, and $10,000 becomes $60,927.

Amount in 1962Value in 2003
$1.00$6.09
$5.00$30.46
$10.00$60.93
$20.00$122
$50.00$305
$100$609
$500$3,046
$1,000$6,093
$5,000$30,464
$10,000$60,927
$100,000$609,272
$1,000,000$6,092,715

Inflation by spending category, 1962–2003

Between 1962 and 2003, medical care rose the most, up 1164.3%, while apparel rose the least, up 161.1%, against 509.3% for all items. The headline number is an average; here is what $100 of 1962 spending costs in 2003, by category:

Category Avg. yearly inflation $100 in 1962 →
All items (CPI-U) 4.51% $609
Medical care 6.38% $1,264
Core (all items less food & energy) 4.53% $615
Energy 4.48% $604
Food 4.42% $588
Transportation 4.06% $512
Apparel 2.37% $261

Not shown because the BLS began these indexes after 1962: housing (1967–), recreation (1993–), education & communication (1993–).

Decade by decade: 1962 to 2003

Prices climbed fastest in the 1970s, averaging 7.82% a year, and slowest in the 2000s (2.23% a year). Each step below chains into the full 1962–2003 change:

Years Avg. yearly inflation Price change $100 from 1962, at end
1962–1970 3.18% 28.5% $128
1970–1980 7.82% 112.4% $273
1980–1990 4.72% 58.6% $433
1990–2000 2.80% 31.8% $570
2000–2003 2.23% 6.9% $609

Year by year: CPI and the value of $100 from 1962

$100 from 1962 had already become $320 by 1982, on its way to $609 in 2003; 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 the smallest rise was 1.3% in 1964.

Year CPI Inflation rate $100 from 1962
1962 30.2 1.0% $100
1964 31 1.3% $103
1966 32.4 2.9% $107
1968 34.8 4.2% $115
1970 38.8 5.7% $128
1972 41.8 3.2% $138
1974 49.3 11.0% $163
1976 56.9 5.8% $188
1978 65.2 7.6% $216
1980 82.4 13.5% $273
1982 96.5 6.2% $320
1984 103.9 4.3% $344
1986 109.6 1.9% $363
1988 118.3 4.1% $392
1990 130.7 5.4% $433
1992 140.3 3.0% $465
1994 148.2 2.6% $491
1996 156.9 3.0% $520
1998 163 1.6% $540
2000 172.2 3.4% $570
2002 179.9 1.6% $596
2003 184 2.3% $609

Long periods are sampled every 2 years; the calculator above covers any pair of years.

The destination year: 2003

In 2003, prices rose 2.3% and $100 from 1962 had the buying power of $609; the year's average CPI of 184 is the level behind every 2003 figure on this page.

Inflation was 2.3% in 2003, up from 1.6% in 2002, as gasoline climbed from $1.36 to $1.59 a gallon around the March invasion of Iraq. Even so, the Federal Reserve spent the year worried about prices being too low: on June 25 it cut its policy rate to 1.0%, the lowest since 1958, and said the risk of deflation, though small, deserved a response. The median household earned about $43,300 and a new home cost roughly $195,000. Congress passed a second round of tax cuts in May, and the economy grew faster in the second half of the year than at any point since 1999. Hiring lagged the recovery, and unemployment peaked at 6.3% in June. A first-class stamp stayed at 37 cents and the federal minimum wage at $5.15.

More about inflation in 2003 →

Cite this page

MLA: “Inflation from 1962 to 2003: $100 is worth $609 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1962-to-2003/

APA: InflationCalculator.com. Inflation from 1962 to 2003. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1962-to-2003/

Source: U.S. Bureau of Labor Statistics, CPI-U annual averages (series CUUR0000SA0; category indexes listed on the data sources page). See how these numbers are calculated.