The Impact of Inflation on value of $97 from 2008 to 2024
In 1913 the price of $97 is approximately equal to $145.18 in 2024. Prices changed by 2.67% (or $3.01) per year on average during that period. It means that every purchase will cost you 1.50 times as much.
Inflation is a powerful force that can erode the purchasing power of money over time. For anyone curious about the value of $97 in 2008 and what it would be worth in 2024, this page provides a detailed analysis using the cumulative price change, average inflation rate, and other key financial indicators.
How Much is $97 in 2008 Worth Today?
- Converted Amount: The $97 from 2008, adjusted for inflation, would be equivalent to $145.18 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%.
| Cumulative price change | 49.67% |
| Average inflation rate | 2.67% |
| Converted amount | 145.18 |
| Price difference | 48.18 |
| CPI in 2008 | 91.8 |
| CPI in 2024 | 137.4 |
| Inflation in 2008 | 4.44% |
| Inflation in 2024 | 2.23% |
| 97 in 2008 | 145.18 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 2008: 91.8
- CPI in 2024: 137.4
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 $48.18.
2008 to 2024 Inflation Calculator
To understand the transformation of $97 from 2008 into 2024 Australian Dollars, consider the following table:
| Year | CPI | Inflation rate | Value in 2024 |
|---|---|---|---|
| 2008 | 91.8 | 4.44% | $97 |
| 2024 | 137.4 | 2.23% | $145.18 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of $97 in 2008
$97 in the year 2008 is now worth $145.18 in 2024, showing a substantial increase of $48.18 over the years. This change underscores how the average inflation rate of 2.67% annually has eroded the purchasing power of the Australian Dollar.