$100 in 1967 is worth $311 in 1984,
because prices increased 211.1% over that period, an average of
6.90% a year.
$100 in 1967 has
the same buying power as
$311
in 1984
Detailed inflation statistics
Cumulative price change
211.1%
Average inflation rate
6.90% per year
Converted amount ($100 base)
$311
Price difference ($100 base)
$211
CPI in 1967
33.4
CPI in 1984
103.9
Inflation in 1967
3.09%
Inflation in 1984
4.32%
$100 in 1967 → 1984
$311
$100 in 1984 → 1967
$32.15
What happened to prices between 1967 and 1984
Between 1967 and 1984, the Consumer Price Index went from 33.4 to 103.9.
Cumulatively, prices increased 211.1%, which works out to an average of
6.90% per year. Put differently, a dollar in 1967 bought what
$0.32 buys in 1984: the 1967 dollar
lost 67.9% of its purchasing power over
these 17 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 1984 at the same ratio, 3.11: $1,000 becomes
$3,111, and $10,000 becomes $31,108.
Amount in 1967
Value in 1984
$1.00
$3.11
$5.00
$15.55
$10.00
$31.11
$20.00
$62.22
$50.00
$156
$100
$311
$500
$1,555
$1,000
$3,111
$5,000
$15,554
$10,000
$31,108
$100,000
$311,078
$1,000,000
$3,110,778
Inflation by spending category, 1967–1984
Between 1967 and 1984, energy rose the most, up 323.9%, while apparel rose the least, up 100.2%, against 211.1% for all items. The headline number is an average; here is what $100 of 1967
spending costs in 1984, by category:
Category
Avg. yearly inflation
$100 in 1967 →
All items (CPI-U)
6.90%
$311
Energy
8.87%
$424
Medical care
8.15%
$379
Housing
7.40%
$336
Transportation
6.91%
$311
Food
6.73%
$303
Core (all items less food & energy)
6.71%
$301
Apparel
4.17%
$200
Not shown because the BLS began these indexes after 1967: recreation (1993–), education & communication (1993–).
Decade by decade: 1967 to 1984
Prices climbed fastest in the 1970s, averaging 7.82% a year, and slowest in the 1960s (5.12% a year). Each step below chains into the full 1967–1984 change:
Years
Avg. yearly inflation
Price change
$100 from 1967, at end
1967–1970
5.12%
16.2%
$116
1970–1980
7.82%
112.4%
$247
1980–1984
5.97%
26.1%
$311
Year by year: CPI and the value of $100 from 1967
$100 from 1967 had already become $161 by
1975, on its way to $311 in 1984; 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 3.2% in 1972.
In 1984, prices rose 4.3% and $100 from 1967 had the buying
power of $311; the year's average CPI of 103.9 is the level
behind every 1984 figure on this page.
1984 was the year the recovery became a boom. Real GDP grew 7.2%, the
fastest calendar-year growth since 1951, as the tax cuts passed in 1981
combined with falling interest rates and rebuilding consumer confidence.
Unemployment, which had topped 10.8% just two years earlier, fell below
7.5%. Inflation ticked up to 4.3% from 3.2% the year before, but nothing
close to a return of the 1970s wage-price spiral: the Federal Reserve under
Paul Volcker kept policy tight enough to hold the line while growth ran hot.
The strength of the expansion, branded “Morning in America” in President
Reagan’s reelection campaign, carried him to a 49-state landslide over
Walter Mondale that November, at the time the widest electoral-vote margin
in U.S. history. For households, the numbers behind the slogan were
concrete: median income rose to about $22,400, and a gallon of gas cost
$1.13, roughly what it had cost three years earlier even as wages kept
climbing. The contrast with 1980, when 13.5% inflation and interest rates
near 20% had defined the economy, could not have been sharper.
MLA: “Inflation from 1967 to 1984: $100 is worth $311 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1967-to-1984/
APA: InflationCalculator.com. Inflation from 1967 to 1984. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1967-to-1984/