$100 in 2008 is worth $101 in 2010,
because prices increased 1.3% over that period, an average of
0.64% a year.
$100 in 2008 has
the same buying power as
$101
in 2010
Detailed inflation statistics
Cumulative price change
1.3%
Average inflation rate
0.64% per year
Converted amount ($100 base)
$101
Price difference ($100 base)
$1.28
CPI in 2008
215.303
CPI in 2010
218.056
Inflation in 2008
3.84%
Inflation in 2010
1.64%
$100 in 2008 → 2010
$101
$100 in 2010 → 2008
$98.74
What happened to prices between 2008 and 2010
Between 2008 and 2010, the Consumer Price Index went from 215.303 to 218.056.
Cumulatively, prices increased 1.3%, which works out to an average of
0.64% per year. Put differently, a dollar in 2008 bought what
$0.99 buys in 2010: the 2008 dollar
lost 1.3% of its purchasing power over
these 2 years.
Inflation averaged 3.8% in 2008, but that figure hides a swing. The 12-month rate reached 5.6% in
July, when oil hit $147 a barrel and gasoline passed $4 a gallon, then fell to 0.1% by December
as crude dropped near $40. For the year, gas averaged $3.27, the highest yet. The financial
system broke in the fall: Lehman Brothers filed for bankruptcy on September 15, Congress
created the $700 billion TARP bank rescue on October 3, and the Federal Reserve cut its policy
rate to a range of 0–0.25% in December. The median household earned about $50,300, barely
above 2007, and the median new home price fell to $232,100. The minimum wage rose to $6.55 in
July, and a first-class stamp cost 42 cents. The price collapse at the end of 2008 set up the
deflation of 2009.
Every 2008 amount converts to 2010 at the same ratio, 1.01: $1,000 becomes
$1,013, and $10,000 becomes $10,128.
Amount in 2008
Value in 2010
$1.00
$1.01
$5.00
$5.06
$10.00
$10.13
$20.00
$20.26
$50.00
$50.64
$100
$101
$500
$506
$1,000
$1,013
$5,000
$5,064
$10,000
$10,128
$100,000
$101,279
$1,000,000
$1,012,787
Inflation by spending category, 2008–2010
Between 2008 and 2010, medical care rose the most, up 6.7%, while energy fell 10.7%, against 1.3% for all items. The headline number is an average; here is what $100 of 2008
spending costs in 2010, by category:
Category
Avg. yearly inflation
$100 in 2008 →
All items (CPI-U)
0.64%
$101
Medical care
3.29%
$107
Education & communication
2.51%
$105
Core (all items less food & energy)
1.33%
$103
Food
1.28%
$103
Apparel
0.25%
$101
Recreation
0.03%
$100
Housing
-0.00%
$100.00
Transportation
-0.55%
$98.90
Energy
-5.48%
$89.34
Year by year: CPI and the value of $100 from 2008
$100 from 2008 had already become $99.64 by
2009, on its way to $101 in 2010; each row shows the CPI, that
year's inflation rate, and the running value.
Within the span, inflation peaked at 1.6% in 2010, and prices fell 0.4% in 2009, the deepest deflation of the period.
In 2010, prices rose 1.6% and $100 from 2008 had the buying
power of $101; the year's average CPI of 218.056 is the level
behind every 2010 figure on this page.
2010 was a year of recovery without much price pressure. The CPI rose 1.6%, a
return to growth after 2009’s deflation, with gasoline averaging $2.78 a
gallon as energy prices climbed back from their recession lows. Housing costs
barely moved: millions of foreclosed and vacant homes kept rents soft, and the
median new home sold for about $221,800. The federal minimum wage stayed at
$7.25, the level set in July 2009, and a first-class stamp cost 44 cents.
The Federal Reserve was more worried about too little inflation than too
much. Its policy rate sat at 0–0.25%, and in November it announced a further
$600 billion of Treasury purchases to hold down long-term borrowing costs.
Congress passed the Dodd-Frank Act in July to tighten financial regulation,
while a 110 billion euro rescue of Greece in May showed that the crisis had
moved from American mortgages to European government debt. For anyone
comparing dollars across the decade, 2010 is a useful baseline: prices were
still close to their 2008 levels, and the years ahead brought a slow, steady
climb.
MLA: “Inflation from 2008 to 2010: $100 is worth $101 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/2008-to-2010/
APA: InflationCalculator.com. Inflation from 2008 to 2010. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/2008-to-2010/