$100 in 2000 is worth $107 in 2003,
because prices increased 6.9% over that period, an average of
2.23% a year.
$100 in 2000 has
the same buying power as
$107
in 2003
Detailed inflation statistics
Cumulative price change
6.9%
Average inflation rate
2.23% per year
Converted amount ($100 base)
$107
Price difference ($100 base)
$6.85
CPI in 2000
172.2
CPI in 2003
184
Inflation in 2000
3.36%
Inflation in 2003
2.28%
$100 in 2000 → 2003
$107
$100 in 2003 → 2000
$93.59
What happened to prices between 2000 and 2003
Between 2000 and 2003, the Consumer Price Index went from 172.2 to 184.
Cumulatively, prices increased 6.9%, which works out to an average of
2.23% per year. Put differently, a dollar in 2000 bought what
$0.94 buys in 2003: the 2000 dollar
lost 6.4% of its purchasing power over
these 3 years.
Inflation ran at 3.4% in 2000, the highest annual rate since 1991, as an economy growing
above 4% and a rise in oil prices pushed the CPI up. The median household earned about
$42,100, gas averaged $1.51 a gallon, and a new home cost roughly $169,000. The Federal
Reserve had raised interest rates six times since mid-1999 and stopped at 6.5% in May. By
then the stock market had already turned: the Nasdaq hit its record of 5,048 on March 10 and
lost about 39% of its value by December. Consumer prices did not reflect the slowdown yet,
which is why the Fed held rates high through the year even as technology companies began to
fail. In October, Congress granted China permanent normal trade relations, a decision that
would help hold down the price of manufactured goods for years. A first-class stamp cost 33
cents and the federal minimum wage was $5.15. The recession of 2001 brought inflation back
down.
Every 2000 amount converts to 2003 at the same ratio, 1.07: $1,000 becomes
$1,069, and $10,000 becomes $10,685.
Amount in 2000
Value in 2003
$1.00
$1.07
$5.00
$5.34
$10.00
$10.69
$20.00
$21.37
$50.00
$53.43
$100
$107
$500
$534
$1,000
$1,069
$5,000
$5,343
$10,000
$10,685
$100,000
$106,852
$1,000,000
$1,068,525
Inflation by spending category, 2000–2003
Between 2000 and 2003, medical care rose the most, up 13.9%, while apparel fell 6.7%, against 6.9% for all items. The headline number is an average; here is what $100 of 2000
spending costs in 2003, by category:
Category
Avg. yearly inflation
$100 in 2000 →
All items (CPI-U)
2.23%
$107
Medical care
4.44%
$114
Energy
3.09%
$110
Housing
2.90%
$109
Food
2.37%
$107
Education & communication
2.32%
$107
Core (all items less food & energy)
2.14%
$107
Recreation
1.34%
$104
Transportation
0.93%
$103
Apparel
-2.29%
$93.29
Year by year: CPI and the value of $100 from 2000
$100 from 2000 had already become $103 by
2001, on its way to $107 in 2003; each row shows the CPI, that
year's inflation rate, and the running value.
Within the span, inflation peaked at 2.8% in 2001, and the smallest rise was 1.6% in 2002.
In 2003, prices rose 2.3% and $100 from 2000 had the buying
power of $107; the year's average CPI of 184 is the level
behind every 2003 figure on this page.
Inflation was 2.3% in 2003, up from 1.6% in 2002, as gasoline climbed from $1.36 to $1.59 a
gallon around the March invasion of Iraq. Even so, the Federal Reserve spent the year worried
about prices being too low: on June 25 it cut its policy rate to 1.0%, the lowest since 1958,
and said the risk of deflation, though small, deserved a response. The median household earned
about $43,300 and a new home cost roughly $195,000. Congress passed a second round of tax cuts
in May, and the economy grew faster in the second half of the year than at any point since
1999. Hiring lagged the recovery, and unemployment peaked at 6.3% in June. A first-class stamp
stayed at 37 cents and the federal minimum wage at $5.15.
MLA: “Inflation from 2000 to 2003: $100 is worth $107 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/2000-to-2003/
APA: InflationCalculator.com. Inflation from 2000 to 2003. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/2000-to-2003/