$100 in 1964 is worth $983 in 2023,
because prices increased 882.9% over that period, an average of
3.95% a year.
$100 in 1964 has
the same buying power as
$983
in 2023
Detailed inflation statistics
Cumulative price change
882.9%
Average inflation rate
3.95% per year
Converted amount ($100 base)
$983
Price difference ($100 base)
$883
CPI in 1964
31
CPI in 2023
304.702
Inflation in 1964
1.31%
Inflation in 2023
4.12%
$100 in 1964 → 2023
$983
$100 in 2023 → 1964
$10.17
What happened to prices between 1964 and 2023
Between 1964 and 2023, the Consumer Price Index went from 31 to 304.702.
Cumulatively, prices increased 882.9%, which works out to an average of
3.95% per year. Put differently, a dollar in 1964 bought what
$0.10 buys in 2023: the 1964 dollar
lost 89.8% of its purchasing power over
these 59 years.
Consumer prices rose 1.3% in 1964, matching 1963’s pace
even as a large federal tax cut took effect that year. The Revenue Act of
1964, signed February 26, lowered individual and corporate tax rates
significantly, the cut Kennedy had proposed the year before his death and
Johnson pushed through Congress as a Keynesian bet that lower taxes would
spur enough growth without stoking prices. Congress reshaped civil rights
law that July 2, when the Civil Rights Act of 1964 outlawed discrimination
based on race, color, religion, sex, and national origin in employment
and public accommodations, the most sweeping civil rights legislation
since Reconstruction. Vietnam policy shifted that August, when Congress
passed the Gulf of Tonkin Resolution after reported attacks on U.S. Navy
destroyers, authorizing Johnson to use military force in Vietnam without
a formal declaration of war. American pop culture changed that February
too: the Beatles landed at New York’s Kennedy Airport and played the Ed
Sullivan Show two days later for an estimated 73 million viewers,
igniting the “British Invasion.” Consumer prices finished 1964 213.1%
above their 1913 level. First-class postage held at 5
cents, and the minimum wage stayed at $1.25 an hour.
Every 1964 amount converts to 2023 at the same ratio, 9.83: $1,000 becomes
$9,829, and $10,000 becomes $98,291.
Amount in 1964
Value in 2023
$1.00
$9.83
$5.00
$49.15
$10.00
$98.29
$20.00
$197
$50.00
$491
$100
$983
$500
$4,915
$1,000
$9,829
$5,000
$49,145
$10,000
$98,291
$100,000
$982,910
$1,000,000
$9,829,097
Inflation by spending category, 1964–2023
Between 1964 and 2023, medical care rose the most, up 2132.0%, while apparel rose the least, up 176.1%, against 882.9% for all items. The headline number is an average; here is what $100 of 1964
spending costs in 2023, by category:
Category
Avg. yearly inflation
$100 in 1964 →
All items (CPI-U)
3.95%
$983
Medical care
5.40%
$2,232
Energy
4.39%
$1,259
Food
4.02%
$1,025
Core (all items less food & energy)
3.90%
$955
Transportation
3.69%
$850
Apparel
1.74%
$276
Not shown because the BLS began these indexes after 1964: housing (1967–), recreation (1993–), education & communication (1993–).
Decade by decade: 1964 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 1964–2023 change:
Years
Avg. yearly inflation
Price change
$100 from 1964, at end
1964–1970
3.81%
25.2%
$125
1970–1980
7.82%
112.4%
$266
1980–1990
4.72%
58.6%
$422
1990–2000
2.80%
31.8%
$555
2000–2010
2.39%
26.6%
$703
2010–2020
1.73%
18.7%
$835
2020–2023
5.59%
17.7%
$983
Year by year: CPI and the value of $100 from 1964
$100 from 1964 had already become $478 by
1994, on its way to $983 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 1964 had the buying
power of $983; 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 1964 to 2023: $100 is worth $983 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1964-to-2023/
APA: InflationCalculator.com. Inflation from 1964 to 2023. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1964-to-2023/