According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 1,496.40% higher in 2024 versus 1945 (a $104,747,897.86 difference in value).
Between 1945 and 2024: Detroit experienced an average inflation rate of 3.57% per year. This rate of change indicates significant inflation. In other words, $7,000,000 in Detroit in the year 1945 would cost $111,747,897.86 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.68% during this same period, inflation in Detroit was lower.
In the year 1945: Pricing changed by 2.67%, which is below the average yearly change in Detroit during the 1945-2024 time period. Compared to inflation for all items in 1945 (2.27%), inflation in Detroit was higher.
Below are calculations of equivalent buying power in Detroit, over time, for $7,000,000 beginning in 1945. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1945 | $7,000,000.00 | 2.67% |
| 1946 | $7,609,667.12 | 8.71% |
| 1947 | $8,672,594.62 | 13.97% |
| 1948 | $9,371,637.03 | 8.06% |
| 1949 | $9,250,342.00 | -1.29% |
| 1950 | $9,403,556.77 | 1.66% |
| 1951 | $10,140,902.87 | 7.84% |
| 1952 | $10,396,260.83 | 2.52% |
| 1953 | $10,581,395.35 | 1.78% |
| 1954 | $10,619,699.04 | 0.36% |
| 1955 | $10,600,547.20 | -0.18% |
| 1956 | $10,798,449.61 | 1.87% |
| 1957 | $11,114,455.08 | 2.93% |
| 1958 | $11,267,669.86 | 1.38% |
| 1959 | $11,264,477.88 | -0.03% |
| 1960 | $11,357,045.14 | 0.82% |
| 1961 | $11,420,884.63 | 0.56% |
| 1962 | $11,455,996.35 | 0.31% |
| 1963 | $11,567,715.46 | 0.98% |
| 1964 | $11,663,474.69 | 0.83% |
| 1965 | $11,931,600.55 | 2.30% |
| 1966 | $12,461,468.31 | 4.44% |
| 1967 | $12,879,616.96 | 3.36% |
| 1968 | $13,435,020.52 | 4.31% |
| 1969 | $14,252,165.98 | 6.08% |
| 1970 | $15,133,150.93 | 6.18% |
| 1971 | $15,685,362.52 | 3.65% |
| 1972 | $16,266,301.87 | 3.70% |
| 1973 | $17,326,037.39 | 6.51% |
| 1974 | $19,202,918.38 | 10.83% |
| 1975 | $20,632,922.94 | 7.45% |
| 1976 | $21,753,305.97 | 5.43% |
| 1977 | $23,247,150.02 | 6.87% |
| 1978 | $25,012,311.90 | 7.59% |
| 1979 | $28,191,518.47 | 12.71% |
| 1980 | $32,673,050.62 | 15.90% |
| 1981 | $35,705,426.36 | 9.28% |
| 1982 | $37,151,390.79 | 4.05% |
| 1983 | $38,211,126.31 | 2.85% |
| 1984 | $39,548,563.61 | 3.50% |
| 1985 | $40,924,304.61 | 3.48% |
| 1986 | $41,495,668.03 | 1.40% |
| 1987 | $42,753,305.97 | 3.03% |
| 1988 | $44,378,020.98 | 3.80% |
| 1989 | $46,733,698.13 | 5.31% |
| 1990 | $49,137,254.90 | 5.14% |
| 1991 | $50,931,144.55 | 3.65% |
| 1992 | $52,000,456.00 | 2.10% |
| 1993 | $53,404,924.76 | 2.70% |
| 1994 | $55,090,287.28 | 3.16% |
| 1995 | $56,829,913.36 | 3.16% |
| 1996 | $58,368,445.05 | 2.71% |
| 1997 | $59,811,217.51 | 2.47% |
| 1998 | $61,135,886.91 | 2.21% |
| 1999 | $62,728,682.17 | 2.61% |
| 2000 | $64,934,336.53 | 3.52% |
| 2001 | $66,776,105.79 | 2.84% |
| 2002 | $68,442,316.46 | 2.50% |
| 2003 | $69,891,472.87 | 2.12% |
| 2004 | $70,963,976.29 | 1.53% |
| 2005 | $72,990,880.07 | 2.86% |
| 2006 | $75,228,454.17 | 3.07% |
| 2007 | $76,596,694.03 | 1.82% |
| 2008 | $78,463,201.09 | 2.44% |
| 2009 | $77,852,927.50 | -0.78% |
| 2010 | $78,515,357.96 | 0.85% |
| 2011 | $80,998,937.53 | 3.16% |
| 2012 | $82,718,932.97 | 2.12% |
| 2013 | $84,043,538.53 | 1.60% |
| 2014 | $84,954,145.01 | 1.08% |
| 2015 | $83,834,368.45 | -1.32% |
| 2016 | $85,058,490.65 | 1.46% |
| 2017 | $86,787,934.34 | 2.03% |
| 2018 | $88,920,269.04 | 2.46% |
| 2019 | $90,097,245.78 | 1.32% |
| 2020 | $91,014,715.00 | 1.02% |
| 2021 | $94,778,882.81 | 4.14% |
| 2022 | $102,557,788.42 | 8.21% |
| 2023 | $108,139,051.53 | 5.44% |
| 2024 | $111,747,897.86 | 3.34%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Detroit, Michigan:
| Year | 1914 | 1915 | 1916 | 1917 | 1918 | 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | 1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 9.700 | 9.733 | 10.233 | 11.917 | 14.525 | 17.642 | 21.508 | 19.517 | 17.442 | 17.958 | 18.050 | 18.158 | 18.467 | 18.158 | 17.525 | 17.508 | 17.217 | 15.183 | 13.250 | 11.917 | 12.592 | 13.267 | 13.825 | 14.608 | 14.533 | 14.033 | 14.117 | 15.000 | 16.658 | 17.567 | 17.800 | 18.275 | 19.867 | 22.642 | 24.467 | 24.150 | 24.550 | 26.475 | 27.142 | 27.625 | 27.725 | 27.675 | 28.192 | 29.017 | 29.417 | 29.408 | 29.650 | 29.817 | 29.908 | 30.200 | 30.450 | 31.150 | 32.533 | 33.625 | 35.075 | 37.208 | 39.508 | 40.950 | 42.467 | 45.233 | 50.133 | 53.867 | 56.792 | 60.692 | 65.300 | 73.600 | 85.300 | 93.217 | 96.992 | 99.758 | 103.250 | 106.842 | 108.333 | 111.617 | 115.858 | 122.008 | 128.283 | 132.967 | 135.758 | 139.425 | 143.825 | 148.367 | 152.383 | 156.150 | 159.608 | 163.767 | 169.525 | 174.333 | 178.683 | 182.467 | 185.267 | 190.558 | 196.400 | 199.972 | 204.845 | 203.252 | 204.981 | 211.465 | 215.956 | 219.414 | 221.791 | 218.868 | 222.063 | 226.578 | 232.145 | 235.218 | 237.613 | 247.441 | 267.749 | 282.320 | 291.742 |