$500 in 2008 is worth $748.37 today

748.37

Value of $500 from 2008 to 2024

In 1913 the price of $500 is approximately equal to $748.37 today in 2024. Prices changed by 2.67% (or $15.52) per year on average during that period. It means that every purchase will cost you 1.50 times as much.
For anyone curious about the value of $500 in 2008 and what it would be worth today in 2024, this page provides a detailed analysis using the cumulative price change, average inflation rate, and other key financial indicators.


How Much is $500 in 2008 Worth Today?

  • Converted Amount: The $500 from 2008, adjusted for inflation, would be equivalent to $748.37 in 2024.
  • Cumulative Price Change: Over this period, the cumulative price change has been 49.67%.
  • Average Inflation Rate: The average annual inflation rate between 2008 and 2024 has been 2.67%.
Inflation from 2008 to 2024
Cumulative price change 49.67%
Average inflation rate 2.67%
Converted amount $748.37
Price difference $248.37
CPI in 2008 91.8
CPI in 2024137.4
Inflation in 20084.44%
Inflation in 20242.23%
$500 in 2008$748.37 in 2024

Key Financial Indicators:

Consumer Price Index (CPI) Comparison

  • CPI in 2008: 91.8
  • CPI in 2024: 137.4

The CPI index has changed by 2.85 points per year on average over 16 years. The chart below represents the price changes from 2008 to 2024 (for convenience, the values converted in Australian Dollars):

Inflation Rate at 2008 and 2024

  • Inflation in 2008: 4.44%
  • Inflation in 2024: 2.23%

Price Difference

  • The price difference between 2008 and 2024 is $248.37.

2008 to 2024 Inflation Calculator

To understand the transformation of $500 from 2008 into 2024 Australian Dollars, consider the following table:

YearCPIInflation rateValue in 2024
200891.84.44%$500
2024137.42.23%$748.37

This table highlights the key figures that affect how the value of money changes over time due to inflation.


Buying Power of $500 in 2008

$500 in the year 2008 is now worth $748.37 in 2024, showing a substantial increase of $248.37 over the years. This change underscores how the average inflation rate of 2.67% annually has eroded the purchasing power of the Australian Dollar.

It means that the real purchasing power has decreased and, adjusted for inflation, you can buy 1.50 times less for the same amount of money.

To illustrate this, let's see the chart below that demonstrates how $500 has significantly decreased in worth over 16 years:

Inflation from 2008 to 2024
Cumulative price change 49.67%
Average inflation rate 2.67%
Converted amount 748.37
Price difference 248.37
CPI in 2008 91.8
CPI in 2024137.4
Inflation in 20084.44%
Inflation in 20242.23%
500 in 2008748.37 in 2024