According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 638.43% higher in 2024 versus 1970 (a $89,380,358.57 difference in value).
Between 1970 and 2024: Detroit experienced an average inflation rate of 3.77% per year. This rate of change indicates significant inflation. In other words, $14,000,000 in Detroit in the year 1970 would cost $103,380,358.57 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.95% during this same period, inflation in Detroit was lower.
In the year 1970: Pricing changed by 6.18%, which is above the average yearly change in Detroit during the 1970-2024 time period. Compared to inflation for all items in 1970 (5.83%), inflation in Detroit was higher.
Below are calculations of equivalent buying power in Detroit, over time, for $14,000,000 beginning in 1970. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1970 | $14,000,000.00 | 6.18% |
| 1971 | $14,510,862.69 | 3.65% |
| 1972 | $15,048,302.05 | 3.70% |
| 1973 | $16,028,685.93 | 6.51% |
| 1974 | $17,765,028.48 | 10.83% |
| 1975 | $19,087,956.13 | 7.45% |
| 1976 | $20,124,446.32 | 5.43% |
| 1977 | $21,506,433.24 | 6.87% |
| 1978 | $23,139,422.06 | 7.59% |
| 1979 | $26,080,573.72 | 12.71% |
| 1980 | $30,226,534.49 | 15.90% |
| 1981 | $33,031,849.82 | 9.28% |
| 1982 | $34,369,542.29 | 4.05% |
| 1983 | $35,349,926.18 | 2.85% |
| 1984 | $36,587,217.89 | 3.50% |
| 1985 | $37,859,945.16 | 3.48% |
| 1986 | $38,388,525.63 | 1.40% |
| 1987 | $39,551,993.25 | 3.03% |
| 1988 | $41,055,051.68 | 3.80% |
| 1989 | $43,234,338.75 | 5.31% |
| 1990 | $45,457,920.27 | 5.14% |
| 1991 | $47,117,485.76 | 3.65% |
| 1992 | $48,106,728.54 | 2.10% |
| 1993 | $49,406,032.48 | 2.70% |
| 1994 | $50,965,197.22 | 3.16% |
| 1995 | $52,574,562.33 | 3.16% |
| 1996 | $53,997,890.74 | 2.71% |
| 1997 | $55,332,630.25 | 2.47% |
| 1998 | $56,558,110.10 | 2.21% |
| 1999 | $58,031,638.89 | 2.61% |
| 2000 | $60,072,136.68 | 3.52% |
| 2001 | $61,775,996.63 | 2.84% |
| 2002 | $63,317,443.58 | 2.50% |
| 2003 | $64,658,089.01 | 2.12% |
| 2004 | $65,650,284.75 | 1.53% |
| 2005 | $67,525,416.58 | 2.86% |
| 2006 | $69,595,444.00 | 3.07% |
| 2007 | $70,861,231.81 | 1.82% |
| 2008 | $72,587,977.22 | 2.44% |
| 2009 | $72,023,400.13 | -0.78% |
| 2010 | $72,636,228.64 | 0.85% |
| 2011 | $74,933,840.96 | 3.16% |
| 2012 | $76,525,045.35 | 2.12% |
| 2013 | $77,750,466.15 | 1.60% |
| 2014 | $78,592,887.58 | 1.08% |
| 2015 | $77,556,958.45 | -1.32% |
| 2016 | $78,689,419.95 | 1.46% |
| 2017 | $80,289,365.11 | 2.03% |
| 2018 | $82,262,033.33 | 2.46% |
| 2019 | $83,350,879.56 | 1.32% |
| 2020 | $84,199,649.86 | 1.02% |
| 2021 | $87,681,961.61 | 4.14% |
| 2022 | $94,878,392.74 | 8.21% |
| 2023 | $100,041,738.03 | 5.44% |
| 2024 | $103,380,358.57 | 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 |