The Impact of Inflation on value of $1 from 2014 to 2024
In 1913 the price of $1 is approximately equal to $1.30 in 2024. Prices changed by 2.62% (or $0.03) per year on average during that period. It means that every purchase will cost you 1.30 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 $1 in 2014 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 $1 in 2014 Worth Today?
- Converted Amount: The $1 from 2014, adjusted for inflation, would be equivalent to $1.30 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 29.50%.
- Average Inflation Rate: The average annual inflation rate between 2014 and 2024 has been 2.62%.
| Cumulative price change | 29.50% |
| Average inflation rate | 2.62% |
| Converted amount | 1.30 |
| Price difference | 0.30 |
| CPI in 2014 | 106.1 |
| CPI in 2024 | 137.4 |
| Inflation in 2014 | 2.51% |
| Inflation in 2024 | 2.23% |
| 1 in 2014 | 1.30 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 2014: 106.1
- CPI in 2024: 137.4
Inflation Rate at 2014 and 2024
- Inflation in 2014: 2.51%
- Inflation in 2024: 2.23%
Price Difference
- The price difference between 2014 and 2024 is $0.30.
2014 to 2024 Inflation Calculator
To understand the transformation of $1 from 2014 into 2024 Australian Dollars, consider the following table:
| Year | CPI | Inflation rate | Value in 2024 |
|---|---|---|---|
| 2014 | 106.1 | 2.51% | $1 |
| 2024 | 137.4 | 2.23% | $1.30 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of $1 in 2014
$1 in the year 2014 is now worth $1.30 in 2024, showing a substantial increase of $0.30 over the years. This change underscores how the average inflation rate of 2.62% annually has eroded the purchasing power of the Australian Dollar.