According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 1,088.36% higher in 2024 versus 1950 (a $15,574,399.74 difference in value).
Between 1950 and 2024: Detroit experienced an average inflation rate of 3.40% per year. This rate of change indicates significant inflation. In other words, $1,431,000 in Detroit in the year 1950 would cost $17,005,399.74 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.53% during this same period, inflation in Detroit was lower.
In the year 1950: Pricing changed by 1.66%, which is below the average yearly change in Detroit during the 1950-2024 time period. Compared to inflation for all items in 1950 (1.10%), inflation in Detroit was higher.
Below are calculations of equivalent buying power in Detroit, over time, for $1,431,000 beginning in 1950. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1950 | $1,431,000.00 | 1.66% |
1951 | $1,543,206.72 | 7.84% |
1952 | $1,582,066.19 | 2.52% |
1953 | $1,610,239.31 | 1.78% |
1954 | $1,616,068.23 | 0.36% |
1955 | $1,613,153.77 | -0.18% |
1956 | $1,643,269.86 | 1.87% |
1957 | $1,691,358.45 | 2.93% |
1958 | $1,714,674.13 | 1.38% |
1959 | $1,714,188.39 | -0.03% |
1960 | $1,728,274.95 | 0.82% |
1961 | $1,737,989.82 | 0.56% |
1962 | $1,743,332.99 | 0.31% |
1963 | $1,760,334.01 | 0.98% |
1964 | $1,774,906.31 | 0.83% |
1965 | $1,815,708.76 | 2.30% |
1966 | $1,896,342.16 | 4.44% |
1967 | $1,959,974.54 | 3.36% |
1968 | $2,044,493.89 | 4.31% |
1969 | $2,168,844.20 | 6.08% |
1970 | $2,302,909.37 | 6.18% |
1971 | $2,386,942.97 | 3.65% |
1972 | $2,475,348.27 | 3.70% |
1973 | $2,636,615.07 | 6.51% |
1974 | $2,922,232.18 | 10.83% |
1975 | $3,139,845.21 | 7.45% |
1976 | $3,310,341.14 | 5.43% |
1977 | $3,537,669.04 | 6.87% |
1978 | $3,806,285.13 | 7.59% |
1979 | $4,290,085.54 | 12.71% |
1980 | $4,972,069.25 | 15.90% |
1981 | $5,433,525.46 | 9.28% |
1982 | $5,653,567.21 | 4.05% |
1983 | $5,814,834.01 | 2.85% |
1984 | $6,018,360.49 | 3.50% |
1985 | $6,227,715.89 | 3.48% |
1986 | $6,314,663.95 | 1.40% |
1987 | $6,506,046.84 | 3.03% |
1988 | $6,753,290.22 | 3.80% |
1989 | $7,111,768.84 | 5.31% |
1990 | $7,477,533.60 | 5.14% |
1991 | $7,750,521.38 | 3.65% |
1992 | $7,913,245.42 | 2.10% |
1993 | $8,126,972.51 | 2.70% |
1994 | $8,383,445.01 | 3.16% |
1995 | $8,648,175.15 | 3.16% |
1996 | $8,882,303.46 | 2.71% |
1997 | $9,101,859.47 | 2.47% |
1998 | $9,303,442.97 | 2.21% |
1999 | $9,545,828.92 | 2.61% |
2000 | $9,881,477.60 | 3.52% |
2001 | $10,161,751.53 | 2.84% |
2002 | $10,415,309.57 | 2.50% |
2003 | $10,635,837.07 | 2.12% |
2004 | $10,799,046.84 | 1.53% |
2005 | $11,107,493.89 | 2.86% |
2006 | $11,448,000.00 | 3.07% |
2007 | $11,656,213.90 | 1.82% |
2008 | $11,940,252.34 | 2.44% |
2009 | $11,847,383.07 | -0.78% |
2010 | $11,948,189.39 | 0.85% |
2011 | $12,326,131.74 | 3.16% |
2012 | $12,587,874.56 | 2.12% |
2013 | $12,789,448.35 | 1.60% |
2014 | $12,928,021.22 | 1.08% |
2015 | $12,757,617.59 | -1.32% |
2016 | $12,943,900.17 | 1.46% |
2017 | $13,207,080.79 | 2.03% |
2018 | $13,531,571.95 | 2.46% |
2019 | $13,710,680.10 | 1.32% |
2020 | $13,850,297.32 | 1.02% |
2021 | $14,423,115.06 | 4.14% |
2022 | $15,606,881.40 | 8.21% |
2023 | $16,456,218.27 | 5.44% |
2024 | $17,005,399.74 | 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 |