$100 in 2001 is worth $102 in 2002,
because prices increased 1.6% over that period, an average of
1.58% a year.
$100 in 2001 has
the same buying power as
$102
in 2002
Detailed inflation statistics
Cumulative price change
1.6%
Average inflation rate
1.58% per year
Converted amount ($100 base)
$102
Price difference ($100 base)
$1.58
CPI in 2001
177.1
CPI in 2002
179.9
Inflation in 2001
2.85%
Inflation in 2002
1.58%
$100 in 2001 → 2002
$102
$100 in 2002 → 2001
$98.44
What happened to prices between 2001 and 2002
Between 2001 and 2002, the Consumer Price Index went from 177.1 to 179.9.
Cumulatively, prices increased 1.6%, which works out to an average of
1.58% per year. Put differently, a dollar in 2001 bought what
$0.98 buys in 2002: the 2001 dollar
lost 1.6% of its purchasing power over
these 1 years.
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.
Every 2001 amount converts to 2002 at the same ratio, 1.02: $1,000 becomes
$1,016, and $10,000 becomes $10,158.
Amount in 2001
Value in 2002
$1.00
$1.02
$5.00
$5.08
$10.00
$10.16
$20.00
$20.32
$50.00
$50.79
$100
$102
$500
$508
$1,000
$1,016
$5,000
$5,079
$10,000
$10,158
$100,000
$101,581
$1,000,000
$1,015,810
Inflation by spending category, 2001–2002
Between 2001 and 2002, medical care rose the most, up 4.7%, while energy fell 5.9%, against 1.6% for all items. The headline number is an average; here is what $100 of 2001
spending costs in 2002, by category:
Category
Avg. yearly inflation
$100 in 2001 →
All items (CPI-U)
1.58%
$102
Medical care
4.69%
$105
Education & communication
2.57%
$103
Core (all items less food & energy)
2.36%
$102
Housing
2.21%
$102
Food
1.79%
$102
Recreation
1.24%
$101
Transportation
-0.91%
$99.09
Apparel
-2.59%
$97.41
Energy
-5.88%
$94.12
Year by year: CPI and the value of $100 from 2001
$100 from 2001grew to $102 by 2002; each row
shows the CPI, that year's inflation rate, and the running value.
In 2002, prices rose 1.6% and $100 from 2001 had the buying
power of $102; the year's average CPI of 179.9 is the level
behind every 2002 figure on this page.
The CPI rose 1.6% in 2002, the lowest annual rate of the decade so far, with gasoline down to an
average of $1.36 a gallon and slack in the labor market keeping wage pressure low. The median
household earned about $42,400, and a new home cost roughly $187,600, an increase of about 7%
from the year before as low mortgage rates began to lift housing. The Federal Reserve cut its
policy rate to 1.25% in November. Stocks were moving the other way: after the Enron and WorldCom
scandals, the S&P 500 hit its bear-market low on October 9, about 49% below its March 2000
peak, and Congress passed the Sarbanes-Oxley Act in July to tighten corporate accounting rules.
On January 1, euro banknotes and coins replaced national currencies in 12 European countries. A
first-class stamp rose to 37 cents in June, and the federal minimum wage stayed at $5.15.
MLA: “Inflation from 2001 to 2002: $100 is worth $102 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/2001-to-2002/
APA: InflationCalculator.com. Inflation from 2001 to 2002. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/2001-to-2002/