$100 in 2004 is worth $166 in 2024,
because prices increased 66.1% over that period, an average of
2.57% a year.
$100 in 2004 has
the same buying power as
$166
in 2024
Detailed inflation statistics
Cumulative price change
66.1%
Average inflation rate
2.57% per year
Converted amount ($100 base)
$166
Price difference ($100 base)
$66.06
CPI in 2004
188.9
CPI in 2024
313.689
Inflation in 2004
2.66%
Inflation in 2024
2.95%
$100 in 2004 → 2024
$166
$100 in 2024 → 2004
$60.22
What happened to prices between 2004 and 2024
Between 2004 and 2024, the Consumer Price Index went from 188.9 to 313.689.
Cumulatively, prices increased 66.1%, which works out to an average of
2.57% per year. Put differently, a dollar in 2004 bought what
$0.60 buys in 2024: the 2004 dollar
lost 39.8% of its purchasing power over
these 20 years.
Consumer prices rose 2.7% in 2004, with a 29-cent jump in the price of gasoline, to $1.88 a
gallon, doing much of the work. Crude oil passed $50 a barrel in October on rising demand
from China and India. The Federal Reserve raised rates for the first time in four years on
June 30, to 1.25%, and it kept going: 17 consecutive quarter-point increases took the rate to
5.25% by June 2006. Housing was already running ahead of incomes. The median household earned
about $44,300, up 2.3% from 2003, while the median new home sold for $221,000, up about 13%. A
first-class stamp stayed at 37 cents and the federal minimum wage at $5.15, unchanged since
1997.
Every 2004 amount converts to 2024 at the same ratio, 1.66: $1,000 becomes
$1,661, and $10,000 becomes $16,606.
Amount in 2004
Value in 2024
$1.00
$1.66
$5.00
$8.30
$10.00
$16.61
$20.00
$33.21
$50.00
$83.03
$100
$166
$500
$830
$1,000
$1,661
$5,000
$8,303
$10,000
$16,606
$100,000
$166,061
$1,000,000
$1,660,609
Inflation by spending category, 2004–2024
Between 2004 and 2024, energy rose the most, up 84.6%, while apparel rose the least, up 9.2%, against 66.1% for all items. The headline number is an average; here is what $100 of 2004
spending costs in 2024, by category:
Category
Avg. yearly inflation
$100 in 2004 →
All items (CPI-U)
2.57%
$166
Energy
3.11%
$185
Medical care
3.03%
$182
Food
2.91%
$177
Housing
2.88%
$176
Transportation
2.57%
$166
Core (all items less food & energy)
2.45%
$162
Education & communication
1.35%
$131
Recreation
1.21%
$127
Apparel
0.44%
$109
Decade by decade: 2004 to 2024
Prices climbed fastest in the 2020s, averaging 4.93% a year, and slowest in the 2010s (1.73% a year). Each step below chains into the full 2004–2024 change:
Years
Avg. yearly inflation
Price change
$100 from 2004, at end
2004–2010
2.42%
15.4%
$115
2010–2020
1.73%
18.7%
$137
2020–2024
4.93%
21.2%
$166
Year by year: CPI and the value of $100 from 2004
$100 from 2004 had already become $125 by
2014, on its way to $166 in 2024; each row shows the CPI, that
year's inflation rate, and the running value.
Within the span, inflation peaked at 8.0% in 2022, and prices fell 0.4% in 2009, the deepest deflation of the period.
In 2024, prices rose 2.9% and $100 from 2004 had the buying
power of $166; the year's average CPI of 313.689 is the level
behind every 2024 figure on this page.
2024 brought inflation close to normal without fully reaching it. Consumer
prices rose 2.9% on average, the smallest yearly increase since 2020, and the
December-to-December rate was also 2.9%. Gasoline averaged $3.30 a gallon,
below 2023’s $3.52. Shelter stayed the biggest driver of the index, so the
pace of price growth in categories that households can’t easily avoid, such as
rent and insurance, lagged the drop in goods and energy costs.
The Federal Reserve declared progress in September, cutting its policy rate
by half a point, the first reduction since the pandemic emergency, and then
by a quarter point in November and again in December. Mortgage rates near 7%
kept the housing market frozen for many would-be buyers.
Median household income was $83,730, the federal minimum wage stayed at $7.25,
and a first-class stamp rose to 73 cents in July. After the November election,
attention turned to how announced tariffs and tax policy might affect prices
in 2025.
MLA: “Inflation from 2004 to 2024: $100 is worth $166 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/2004-to-2024/
APA: InflationCalculator.com. Inflation from 2004 to 2024. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/2004-to-2024/