$100 in 2008 is worth $111 in 2016,
because prices increased 11.5% over that period, an average of
1.37% a year.
$100 in 2008 has
the same buying power as
$111
in 2016
Detailed inflation statistics
Cumulative price change
11.5%
Average inflation rate
1.37% per year
Converted amount ($100 base)
$111
Price difference ($100 base)
$11.47
CPI in 2008
215.303
CPI in 2016
240.007
Inflation in 2008
3.84%
Inflation in 2016
1.26%
$100 in 2008 → 2016
$111
$100 in 2016 → 2008
$89.71
What happened to prices between 2008 and 2016
Between 2008 and 2016, the Consumer Price Index went from 215.303 to 240.007.
Cumulatively, prices increased 11.5%, which works out to an average of
1.37% per year. Put differently, a dollar in 2008 bought what
$0.90 buys in 2016: the 2008 dollar
lost 10.3% of its purchasing power over
these 8 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 2016 at the same ratio, 1.11: $1,000 becomes
$1,115, and $10,000 becomes $11,147.
Amount in 2008
Value in 2016
$1.00
$1.11
$5.00
$5.57
$10.00
$11.15
$20.00
$22.29
$50.00
$55.74
$100
$111
$500
$557
$1,000
$1,115
$5,000
$5,574
$10,000
$11,147
$100,000
$111,474
$1,000,000
$1,114,741
Inflation by spending category, 2008–2016
Between 2008 and 2016, medical care rose the most, up 27.4%, while energy fell 19.9%, against 11.5% for all items. The headline number is an average; here is what $100 of 2008
spending costs in 2016, by category:
Category
Avg. yearly inflation
$100 in 2008 →
All items (CPI-U)
1.37%
$111
Medical care
3.07%
$127
Food
1.85%
$116
Core (all items less food & energy)
1.75%
$115
Housing
1.52%
$113
Education & communication
1.49%
$113
Apparel
0.73%
$106
Recreation
0.41%
$103
Transportation
-0.04%
$99.67
Energy
-2.74%
$80.09
Decade by decade: 2008 to 2016
Prices climbed fastest in the 2010s, averaging 1.61% a year, and slowest in the 2000s (0.64% a year). Each step below chains into the full 2008–2016 change:
Years
Avg. yearly inflation
Price change
$100 from 2008, at end
2008–2010
0.64%
1.3%
$101
2010–2016
1.61%
10.1%
$111
Year by year: CPI and the value of $100 from 2008
$100 from 2008 had already become $107 by
2012, on its way to $111 in 2016; each row shows the CPI, that
year's inflation rate, and the running value.
Within the span, inflation peaked at 3.2% in 2011, and prices fell 0.4% in 2009, the deepest deflation of the period.
In 2016, prices rose 1.3% and $100 from 2008 had the buying
power of $111; the year's average CPI of 240.007 is the level
behind every 2016 figure on this page.
2016 opened with the cheapest oil in more than a decade and closed with a
change in political direction. Crude fell to about $26 a barrel in February,
and gasoline averaged $2.14 a gallon for the year, its lowest annual
average since 2004. Headline inflation was 1.3%, a modest rebound from 2015’s
0.1%, though prices excluding food and energy rose faster, driven by rents and
health care.
Median household income rose to $59,039, the second large gain in a row, and
the median new home sold for about $307,800. The federal minimum wage held at
$7.25, and a first-class stamp fell to 47 cents after a January rate cut, a
rare decrease.
Two votes changed the outlook. Britain’s June decision to leave the European
Union unsettled currency markets, and the U.S. election in November raised
expectations of tax cuts, deficits, and faster growth, sending long-term
interest rates higher. OPEC’s November output cut ended the oil slump, and the
Federal Reserve made its second rate increase in December, to 0.50–0.75%.
MLA: “Inflation from 2008 to 2016: $100 is worth $111 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/2008-to-2016/
APA: InflationCalculator.com. Inflation from 2008 to 2016. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/2008-to-2016/