$100 in 1993 is worth $123 in 2001,
because prices increased 22.6% over that period, an average of
2.58% a year.
$100 in 1993 has
the same buying power as
$123
in 2001
Detailed inflation statistics
Cumulative price change
22.6%
Average inflation rate
2.58% per year
Converted amount ($100 base)
$123
Price difference ($100 base)
$22.56
CPI in 1993
144.5
CPI in 2001
177.1
Inflation in 1993
2.99%
Inflation in 2001
2.85%
$100 in 1993 → 2001
$123
$100 in 2001 → 1993
$81.59
What happened to prices between 1993 and 2001
Between 1993 and 2001, the Consumer Price Index went from 144.5 to 177.1.
Cumulatively, prices increased 22.6%, which works out to an average of
2.58% per year. Put differently, a dollar in 1993 bought what
$0.82 buys in 2001: the 1993 dollar
lost 18.4% of its purchasing power over
these 8 years.
By 1993, the median household earned about $31,200, gas averaged $1.11 a gallon, and a new home
cost roughly $126,500. Inflation ran at 3.0% for the year, holding close to where it had settled
the year before as the recovery slowly gathered strength. Washington spent much of the year on
two pieces of unfinished business from the recession: a deficit-reduction package, the Omnibus
Budget Reconciliation Act, that raised the top income tax rate to 39.6% to start narrowing a
budget gap left over from the 1980s, and a trade deal, the North American Free Trade Agreement,
that President Clinton signed into law in December after a contentious fight in Congress. NAFTA
phased out most tariffs between the U.S., Mexico, and Canada and took effect the following
January. The year’s other defining event had nothing to do with the economy: in February, a bomb
exploded in the World Trade Center’s parking garage, killing six people and injuring more than a
thousand. By year’s end, the pieces of the decade’s later economic story, freer trade, a
shrinking deficit, and inflation holding near 3%, were already in place.
Every 1993 amount converts to 2001 at the same ratio, 1.23: $1,000 becomes
$1,226, and $10,000 becomes $12,256.
Amount in 1993
Value in 2001
$1.00
$1.23
$5.00
$6.13
$10.00
$12.26
$20.00
$24.51
$50.00
$61.28
$100
$123
$500
$613
$1,000
$1,226
$5,000
$6,128
$10,000
$12,256
$100,000
$122,561
$1,000,000
$1,225,606
Inflation by spending category, 1993–2001
Between 1993 and 2001, medical care rose the most, up 35.5%, while apparel fell 4.8%, against 22.6% for all items. The headline number is an average; here is what $100 of 1993
spending costs in 2001, by category:
Category
Avg. yearly inflation
$100 in 1993 →
All items (CPI-U)
2.58%
$123
Medical care
3.87%
$135
Housing
2.82%
$125
Energy
2.73%
$124
Education & communication
2.63%
$123
Food
2.61%
$123
Core (all items less food & energy)
2.55%
$122
Transportation
2.13%
$118
Recreation
1.83%
$116
Apparel
-0.61%
$95.21
Decade by decade: 1993 to 2001
Prices climbed fastest in the 2000s, averaging 2.85% a year, and slowest in the 1990s (2.54% a year). Each step below chains into the full 1993–2001 change:
Years
Avg. yearly inflation
Price change
$100 from 1993, at end
1993–2000
2.54%
19.2%
$119
2000–2001
2.85%
2.8%
$123
Year by year: CPI and the value of $100 from 1993
$100 from 1993 had already become $111 by
1997, on its way to $123 in 2001; each row shows the CPI, that
year's inflation rate, and the running value.
Within the span, inflation peaked at 3.4% in 2000, and the smallest rise was 1.6% in 1998.
In 2001, prices rose 2.8% and $100 from 1993 had the buying
power of $123; the year's average CPI of 177.1 is the level
behind every 2001 figure on this page.
Inflation fell to 2.8% in 2001 from 3.4% the year before, as a recession that began in March
cut demand and gasoline slid to an average of $1.46 a gallon. The median household earned about
$42,200, roughly flat from 2000, and a new home cost about $175,200. The Federal Reserve cut its
policy rate 11 times over the year, from 6.5% to 1.75%, the lowest since 1961. After the
September 11 attacks, U.S. stock markets closed for four trading days, and air travel dropped
sharply until the following year. Congress had already passed a $1.35 trillion tax cut in June,
which included rebate checks of up to $600. The National Bureau of Economic Research dates the
recession’s end at November, but unemployment kept rising into 2003. A first-class stamp went to
34 cents in January, and the federal minimum wage stayed at $5.15. The Fed’s cuts were the
first step in a long period of very cheap borrowing that would fuel the housing boom.
MLA: “Inflation from 1993 to 2001: $100 is worth $123 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1993-to-2001/
APA: InflationCalculator.com. Inflation from 1993 to 2001. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1993-to-2001/