$100 in 2003 is worth $113 in 2007,
because prices increased 12.7% over that period, an average of
3.03% a year.
$100 in 2003 has
the same buying power as
$113
in 2007
Detailed inflation statistics
Cumulative price change
12.7%
Average inflation rate
3.03% per year
Converted amount ($100 base)
$113
Price difference ($100 base)
$12.69
CPI in 2003
184
CPI in 2007
207.342
Inflation in 2003
2.28%
Inflation in 2007
2.85%
$100 in 2003 → 2007
$113
$100 in 2007 → 2003
$88.74
What happened to prices between 2003 and 2007
Between 2003 and 2007, the Consumer Price Index went from 184 to 207.342.
Cumulatively, prices increased 12.7%, which works out to an average of
3.03% per year. Put differently, a dollar in 2003 bought what
$0.89 buys in 2007: the 2003 dollar
lost 11.3% of its purchasing power over
these 4 years.
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.
Every 2003 amount converts to 2007 at the same ratio, 1.13: $1,000 becomes
$1,127, and $10,000 becomes $11,269.
Amount in 2003
Value in 2007
$1.00
$1.13
$5.00
$5.63
$10.00
$11.27
$20.00
$22.54
$50.00
$56.34
$100
$113
$500
$563
$1,000
$1,127
$5,000
$5,634
$10,000
$11,269
$100,000
$112,686
$1,000,000
$1,126,859
Inflation by spending category, 2003–2007
Between 2003 and 2007, energy rose the most, up 52.2%, while apparel fell 1.6%, against 12.7% for all items. The headline number is an average; here is what $100 of 2003
spending costs in 2007, by category:
Category
Avg. yearly inflation
$100 in 2003 →
All items (CPI-U)
3.03%
$113
Energy
11.07%
$152
Medical care
4.26%
$118
Transportation
4.04%
$117
Housing
3.20%
$113
Food
3.04%
$113
Core (all items less food & energy)
2.19%
$109
Education & communication
2.16%
$109
Recreation
0.90%
$104
Apparel
-0.40%
$98.43
Year by year: CPI and the value of $100 from 2003
$100 from 2003 had already become $106 by
2005, on its way to $113 in 2007; each row shows the CPI, that
year's inflation rate, and the running value.
Within the span, inflation peaked at 3.4% in 2005, and the smallest rise was 2.7% in 2004.
In 2007, prices rose 2.8% and $100 from 2003 had the buying
power of $113; the year's average CPI of 207.342 is the level
behind every 2007 figure on this page.
Inflation was 2.8% in 2007, with gasoline averaging $2.80 a gallon, but the year is better
known for what began underneath prices. In August, French bank BNP Paribas froze funds tied to
U.S. subprime mortgages, and credit between banks tightened. The Federal Reserve responded with
a half-point cut on September 18, its first in four years, and took the policy rate from 5.25% to
4.25% by December. The economy peaked that month, by the National Bureau of Economic Research’s
dating, and the Great Recession followed. The median household earned about $50,200, and the
median new home cost $247,900. Congress ended the decade-long freeze on the federal minimum wage
in May, with the first of three steps to $5.85 in July. A first-class stamp cost 41 cents.
MLA: “Inflation from 2003 to 2007: $100 is worth $113 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/2003-to-2007/
APA: InflationCalculator.com. Inflation from 2003 to 2007. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/2003-to-2007/