$100 in 2016 is worth $102 in 2017,
because prices increased 2.1% over that period, an average of
2.13% a year.
$100 in 2016 has
the same buying power as
$102
in 2017
Detailed inflation statistics
Cumulative price change
2.1%
Average inflation rate
2.13% per year
Converted amount ($100 base)
$102
Price difference ($100 base)
$2.13
CPI in 2016
240.007
CPI in 2017
245.12
Inflation in 2016
1.26%
Inflation in 2017
2.13%
$100 in 2016 → 2017
$102
$100 in 2017 → 2016
$97.91
What happened to prices between 2016 and 2017
Between 2016 and 2017, the Consumer Price Index went from 240.007 to 245.12.
Cumulatively, prices increased 2.1%, which works out to an average of
2.13% per year. Put differently, a dollar in 2016 bought what
$0.98 buys in 2017: the 2016 dollar
lost 2.1% of its purchasing power over
these 1 years.
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%.
Every 2016 amount converts to 2017 at the same ratio, 1.02: $1,000 becomes
$1,021, and $10,000 becomes $10,213.
Amount in 2016
Value in 2017
$1.00
$1.02
$5.00
$5.11
$10.00
$10.21
$20.00
$20.43
$50.00
$51.07
$100
$102
$500
$511
$1,000
$1,021
$5,000
$5,107
$10,000
$10,213
$100,000
$102,130
$1,000,000
$1,021,304
Inflation by spending category, 2016–2017
Between 2016 and 2017, energy rose the most, up 7.9%, while education & communication fell 1.9%, against 2.1% for all items. The headline number is an average; here is what $100 of 2016
spending costs in 2017, by category:
Category
Avg. yearly inflation
$100 in 2016 →
All items (CPI-U)
2.13%
$102
Energy
7.92%
$108
Transportation
3.42%
$103
Housing
2.97%
$103
Medical care
2.51%
$103
Core (all items less food & energy)
1.84%
$102
Recreation
1.30%
$101
Food
0.86%
$101
Apparel
-0.34%
$99.66
Education & communication
-1.89%
$98.11
Year by year: CPI and the value of $100 from 2016
$100 from 2016grew to $102 by 2017; each row
shows the CPI, that year's inflation rate, and the running value.
In 2017, prices rose 2.1% and $100 from 2016 had the buying
power of $102; the year's average CPI of 245.12 is the level
behind every 2017 figure on this page.
2017 pushed consumer prices back above the Federal Reserve’s 2% target. The
CPI rose 2.1%, the first reading over 2% in five years, helped by a rebound
in energy after OPEC’s output cuts and by a storm-related spike at the pump:
Hurricane Harvey shut a large part of Gulf Coast refining in late August.
Gasoline averaged $2.42 a gallon, up from $2.14 in 2016.
Household incomes kept rising. The median household income reached $61,372,
and the median new home sold for about $322,100. The federal minimum wage
stayed at $7.25, its eighth year at that level, and a first-class stamp rose
to 49 cents.
The Fed raised rates three times, to 1.25–1.50%, and in October began
letting its bond holdings shrink. Congress passed the Tax Cuts and Jobs Act
in December, lowering the corporate rate to 21%. Even with unemployment near
4%, core inflation stayed under 2%, a puzzle that shaped Fed debates for the
next two years.
MLA: “Inflation from 2016 to 2017: $100 is worth $102 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/2016-to-2017/
APA: InflationCalculator.com. Inflation from 2016 to 2017. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/2016-to-2017/