Between 1988 and 1989, the Consumer Price Index went from 118.3 to 124.
Cumulatively, prices increased 4.8%, which works out to an average of
4.82% per year. Put differently, a dollar in 1988 bought what
$0.95 buys in 1989.
Common amounts: 1988 dollars in 1989
Amount in 1988
Value in 1989
$1.00
$1.05
$5.00
$5.24
$10.00
$10.48
$20.00
$20.96
$50.00
$52.41
$100
$105
$500
$524
$1,000
$1,048
$5,000
$5,241
$10,000
$10,482
$100,000
$104,818
$1,000,000
$1,048,183
Inflation by spending category, 1988–1989
The headline number is an average. Individual categories moved very differently over this
period. Here is what $100 of 1988 spending costs in 1989, by category:
Category
Avg. yearly inflation
$100 in 1988 →
All items (CPI-U)
4.82%
$105
Medical care
7.72%
$108
Food
5.84%
$106
Energy
5.60%
$106
Transportation
4.97%
$105
Core (all items less food & energy)
4.54%
$105
Housing
3.80%
$104
Apparel
2.77%
$103
Not shown because the BLS began these indexes after 1988: recreation (1993–), education & communication (1993–).
MLA: “Inflation from 1988 to 1989: $100 is worth $105 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1988-to-1989/
APA: InflationCalculator.com. Inflation from 1988 to 1989. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1988-to-1989/