$100 in 1963 is worth $996 in 2023,
because prices increased 895.8% over that period, an average of
3.90% a year.
$100 in 1963 has
the same buying power as
$996
in 2023
Detailed inflation statistics
Cumulative price change
895.8%
Average inflation rate
3.90% per year
Converted amount ($100 base)
$996
Price difference ($100 base)
$896
CPI in 1963
30.6
CPI in 2023
304.702
Inflation in 1963
1.32%
Inflation in 2023
4.12%
$100 in 1963 → 2023
$996
$100 in 2023 → 1963
$10.04
What happened to prices between 1963 and 2023
Between 1963 and 2023, the Consumer Price Index went from 30.6 to 304.702.
Cumulatively, prices increased 895.8%, which works out to an average of
3.90% per year. Put differently, a dollar in 1963 bought what
$0.10 buys in 2023: the 1963 dollar
lost 90.0% of its purchasing power over
these 60 years.
Consumer prices rose 1.3% in 1963, up slightly from 1962’s
1.0% as the expansion entered its third year with inflation still low,
conditions that gave Kennedy room to push the large tax cut he had
proposed to Congress. The cost of a first-class stamp rose that January
7, to 5 cents from 4 cents, the first postal rate change since 1958. That
August 28, Martin Luther King Jr. delivered his “I Have a Dream” speech
from the steps of the Lincoln Memorial to a quarter million people
gathered for the March on Washington, building pressure on Congress to
pass the civil rights bill Kennedy had proposed that June. The year ended
in tragedy: Kennedy was assassinated while riding in a motorcade through
Dallas on November 22, and Lyndon B. Johnson was sworn in aboard Air Force
One that same afternoon. Johnson would spend the following year pushing
Kennedy’s stalled tax and civil rights agenda through Congress. The
minimum wage rose again that September, to $1.25 an hour, the second step
of the phased increase set two years earlier. Consumer prices finished
1963 209.1% above their 1913 level.
Every 1963 amount converts to 2023 at the same ratio, 9.96: $1,000 becomes
$9,958, and $10,000 becomes $99,576.
Amount in 1963
Value in 2023
$1.00
$9.96
$5.00
$49.79
$10.00
$99.58
$20.00
$199
$50.00
$498
$100
$996
$500
$4,979
$1,000
$9,958
$5,000
$49,788
$10,000
$99,576
$100,000
$995,758
$1,000,000
$9,957,582
Inflation by spending category, 1963–2023
Between 1963 and 2023, medical care rose the most, up 2178.4%, while apparel rose the least, up 178.4%, against 895.8% for all items. The headline number is an average; here is what $100 of 1963
spending costs in 2023, by category:
Category
Avg. yearly inflation
$100 in 1963 →
All items (CPI-U)
3.90%
$996
Medical care
5.35%
$2,278
Energy
4.30%
$1,253
Food
3.98%
$1,038
Core (all items less food & energy)
3.86%
$970
Transportation
3.66%
$864
Apparel
1.72%
$278
Not shown because the BLS began these indexes after 1963: housing (1967–), recreation (1993–), education & communication (1993–).
Decade by decade: 1963 to 2023
Prices climbed fastest in the 1970s, averaging 7.82% a year, and slowest in the 2010s (1.73% a year). Each step below chains into the full 1963–2023 change:
Years
Avg. yearly inflation
Price change
$100 from 1963, at end
1963–1970
3.45%
26.8%
$127
1970–1980
7.82%
112.4%
$269
1980–1990
4.72%
58.6%
$427
1990–2000
2.80%
31.8%
$563
2000–2010
2.39%
26.6%
$713
2010–2020
1.73%
18.7%
$846
2020–2023
5.59%
17.7%
$996
Year by year: CPI and the value of $100 from 1963
$100 from 1963 had already become $472 by
1993, on its way to $996 in 2023; 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 2009, the deepest deflation of the period.
Long periods are sampled every 2 years; the calculator above covers any pair of years.
The destination year: 2023
In 2023, prices rose 4.1% and $100 from 1963 had the buying
power of $996; the year's average CPI of 304.702 is the level
behind every 2023 figure on this page.
2023 was the year inflation came down without a recession. Consumer prices
rose 4.1% on average, roughly half of 2022’s 8.0%, and the December-to-December
rate fell to 3.4%. Gasoline averaged $3.52 a gallon, well below the 2022
average, and supply-chain pressure on goods eased. Shelter, restaurant meals,
and other services stayed expensive, so the CPI kept rising at a rate well
above the pre-pandemic pace.
The Federal Reserve completed its rate-hiking campaign in July, taking the
policy rate to 5.25–5.50%, the highest level in 22 years. The effects showed
up in banking: Silicon Valley Bank failed in March after rate increases eroded
the value of its bond portfolio, the second-largest bank failure in U.S.
history at the time. Despite that, unemployment stayed under 4% all year.
Median household income was $80,610 according to the Census Bureau. The
federal minimum wage stayed at $7.25, and a first-class stamp rose to 66 cents
in July.
MLA: “Inflation from 1963 to 2023: $100 is worth $996 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1963-to-2023/
APA: InflationCalculator.com. Inflation from 1963 to 2023. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1963-to-2023/