What was 10000 worth in 1960

In the table below we can see the value of the US Dollar over time. According to the BLS, each of these amounts are equivalent in terms of what that amount could purchase at the time. If you're interested to see the effect of inflation on various amounts, the table below shows how much each amount would be worth today based on the price increase of We then replace the variables with the historical CPI values.

The CPI in was To work out the total inflation rate for the 62 years between and , we can use a different formula:. Again, we can replace those variables with the correct Consumer Price Index values to work out the cumulativate rate:. There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the compound interest formula or the Consumer Price Index CPI formula. In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value.

There are 61 years between and and the average inflation rate has been 4. Therefore, we can resolve the formula like this:. The quarterly data are available from the June quarter and are from various issues of The Labour Report.

The calendar year, financial year and quarterly data from to are not strictly comparable. Further details are as follows:. Skip to content JavaScript is currently disabled. Breaking down these categories helps explain the main drivers behind price changes.

This chart shows the average rate of inflation for select CPI categories between and The graph below compares inflation in categories of goods over time. Click on a category such as "Food" to toggle it on or off:. For all these visualizations, it's important to note that not all categories may have been tracked since This table and charts use the earliest available data for each category.

Our calculations use the following inflation rate formula to calculate the change in value between and today:. Then plug in historical CPI values. The U. CPI was To get the total inflation rate for the years between and , we use the following formula:. Inflation data from to is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University.