$100 in 1967 is worth $104 in 1968,
because prices increased 4.2% over that period, an average of
4.19% a year.
$100 in 1967 has
the same buying power as
$104
in 1968
Detailed inflation statistics
Cumulative price change
4.2%
Average inflation rate
4.19% per year
Converted amount ($100 base)
$104
Price difference ($100 base)
$4.19
CPI in 1967
33.4
CPI in 1968
34.8
Inflation in 1967
3.09%
Inflation in 1968
4.19%
$100 in 1967 → 1968
$104
$100 in 1968 → 1967
$95.98
What happened to prices between 1967 and 1968
Between 1967 and 1968, the Consumer Price Index went from 33.4 to 34.8.
Cumulatively, prices increased 4.2%, which works out to an average of
4.19% per year. Put differently, a dollar in 1967 bought what
$0.96 buys in 1968: the 1967 dollar
lost 4.0% of its purchasing power over
these 1 years.
Consumer prices rose 3.1% in 1967, up from 1966’s 2.9% as
Vietnam War spending kept climbing alongside expanding Great Society
programs, a combination of rising military and domestic outlays that
economists later blamed for entrenching inflation through the rest of the
decade. The minimum wage rose that February 1, to $1.40 an hour, the
first step of a phased increase Congress had set the year before. Urban
unrest reached a peak that July, when days of rioting left 26 dead in
Newark and 43 dead in Detroit, the deadliest of that summer’s roughly 160
disturbances; Johnson responded by forming the Kerner Commission to study
the causes of the unrest. The Supreme Court gained its first Black
justice that year too: the Senate confirmed Thurgood Marshall on August
30, and he was sworn in that October after serving as U.S. Solicitor
General and, before that, as the lead attorney in Brown v. Board of
Education. Consumer prices finished 1967 237.4% above their
1913 level. First-class postage held at 5 cents.
Every 1967 amount converts to 1968 at the same ratio, 1.04: $1,000 becomes
$1,042, and $10,000 becomes $10,419.
Amount in 1967
Value in 1968
$1.00
$1.04
$5.00
$5.21
$10.00
$10.42
$20.00
$20.84
$50.00
$52.10
$100
$104
$500
$521
$1,000
$1,042
$5,000
$5,210
$10,000
$10,419
$100,000
$104,192
$1,000,000
$1,041,916
Inflation by spending category, 1967–1968
Between 1967 and 1968, medical care rose the most, up 6.0%, while energy rose the least, up 1.7%, against 4.2% for all items. The headline number is an average; here is what $100 of 1967
spending costs in 1968, by category:
Category
Avg. yearly inflation
$100 in 1967 →
All items (CPI-U)
4.19%
$104
Medical care
6.03%
$106
Apparel
5.29%
$105
Core (all items less food & energy)
4.61%
$105
Housing
3.90%
$104
Food
3.52%
$104
Transportation
3.00%
$103
Energy
1.68%
$102
Not shown because the BLS began these indexes after 1967: recreation (1993–), education & communication (1993–).
Year by year: CPI and the value of $100 from 1967
$100 from 1967grew to $104 by 1968; each row
shows the CPI, that year's inflation rate, and the running value.
In 1968, prices rose 4.2% and $100 from 1967 had the buying
power of $104; the year's average CPI of 34.8 is the level
behind every 1968 figure on this page.
Consumer prices rose 4.2% in 1968, up sharply from 1967’s
3.1% and the fastest pace in 17 years, as Vietnam War spending and a tight
labor market pushed inflation higher despite the Federal Reserve’s
earlier tightening. The year was marked by political violence: Martin
Luther King Jr. was assassinated on a motel balcony in Memphis on April
4, touching off rioting in more than 100 cities, and Robert F. Kennedy was
shot in Los Angeles on June 5, moments after winning California’s
Democratic presidential primary, and died the next day. Washington tried
to answer the inflation problem directly that June 28, when Congress
passed a 10% income tax surcharge, the Revenue and Expenditure Control
Act, temporarily raising taxes and cutting spending to cool an economy
overheated by war and Great Society outlays; prices kept accelerating
anyway. The cost of living rose in smaller, more visible ways too:
first-class postage climbed to 6 cents that January 7, and the minimum
wage rose to $1.60 an hour that February 1, the final step of the
increase Congress had set two years earlier. Consumer prices finished
1968 251.5% above their 1913 level.
MLA: “Inflation from 1967 to 1968: $100 is worth $104 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1967-to-1968/
APA: InflationCalculator.com. Inflation from 1967 to 1968. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1967-to-1968/