According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 638.43% higher in 2024 versus 1970 (a $9,135,949.51 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, $1,431,000 in Detroit in the year 1970 would cost $10,566,949.51 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 $1,431,000 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 | $1,431,000.00 | 6.18% |
1971 | $1,483,217.46 | 3.65% |
1972 | $1,538,151.44 | 3.70% |
1973 | $1,638,360.68 | 6.51% |
1974 | $1,815,839.70 | 10.83% |
1975 | $1,951,061.80 | 7.45% |
1976 | $2,057,005.91 | 5.43% |
1977 | $2,198,264.71 | 6.87% |
1978 | $2,365,179.50 | 7.59% |
1979 | $2,665,807.21 | 12.71% |
1980 | $3,089,583.63 | 15.90% |
1981 | $3,376,326.94 | 9.28% |
1982 | $3,513,058.22 | 4.05% |
1983 | $3,613,267.45 | 2.85% |
1984 | $3,739,736.34 | 3.50% |
1985 | $3,869,827.25 | 3.48% |
1986 | $3,923,855.73 | 1.40% |
1987 | $4,042,778.74 | 3.03% |
1988 | $4,196,412.78 | 3.80% |
1989 | $4,419,167.05 | 5.31% |
1990 | $4,646,448.85 | 5.14% |
1991 | $4,816,080.15 | 3.65% |
1992 | $4,917,194.90 | 2.10% |
1993 | $5,050,002.32 | 2.70% |
1994 | $5,209,371.23 | 3.16% |
1995 | $5,373,871.34 | 3.16% |
1996 | $5,519,355.83 | 2.71% |
1997 | $5,655,785.28 | 2.47% |
1998 | $5,781,046.83 | 2.21% |
1999 | $5,931,662.52 | 2.61% |
2000 | $6,140,230.54 | 3.52% |
2001 | $6,314,389.37 | 2.84% |
2002 | $6,471,947.27 | 2.50% |
2003 | $6,608,980.38 | 2.12% |
2004 | $6,710,396.96 | 1.53% |
2005 | $6,902,062.22 | 2.86% |
2006 | $7,113,648.60 | 3.07% |
2007 | $7,243,030.19 | 1.82% |
2008 | $7,419,528.24 | 2.44% |
2009 | $7,361,820.40 | -0.78% |
2010 | $7,424,460.23 | 0.85% |
2011 | $7,659,309.03 | 3.16% |
2012 | $7,821,952.85 | 2.12% |
2013 | $7,947,208.36 | 1.60% |
2014 | $8,033,315.87 | 1.08% |
2015 | $7,927,429.11 | -1.32% |
2016 | $8,043,182.85 | 1.46% |
2017 | $8,206,720.11 | 2.03% |
2018 | $8,408,354.98 | 2.46% |
2019 | $8,519,650.62 | 1.32% |
2020 | $8,606,407.07 | 1.02% |
2021 | $8,962,349.08 | 4.14% |
2022 | $9,697,927.14 | 8.21% |
2023 | $10,225,694.79 | 5.44% |
2024 | $10,566,949.51 | 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 |