The Impact of Inflation on value of ¥1000 from 1971 to 2024
In 1913 the price of ¥1000 is approximately equal to ¥7458.99 in 2024. Prices changed by 3.92% (or ¥121.87) per year on average during that period. It means that every purchase will cost you 7.46 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 ¥1000 in 1971 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 ¥1000 in 1971 Worth Today?
- Converted Amount: The ¥1000 from 1971, adjusted for inflation, would be equivalent to ¥7458.99 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 645.90%.
- Average Inflation Rate: The average annual inflation rate between 1971 and 2024 has been 3.92%.
| Cumulative price change | 645.90% |
| Average inflation rate | 3.92% |
| Converted amount | 7458.99 |
| Price difference | 6458.99 |
| CPI in 1971 | 137.76 |
| CPI in 2024 | 1027.55 |
| Inflation in 1971 | -0.10% |
| Inflation in 2024 | 0.08% |
| 1000 in 1971 | 7458.99 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 1971: 137.76
- CPI in 2024: 1027.55
Inflation Rate at 1971 and 2024
- Inflation in 1971: -0.10%
- Inflation in 2024: 0.08%
Price Difference
- The price difference between 1971 and 2024 is ¥6458.99.
1971 to 2024 Inflation Calculator
To understand the transformation of ¥1000 from 1971 into 2024 Chinese Yuans, consider the following table:
| Year | CPI | Inflation rate | Value in 2024 |
|---|---|---|---|
| 1971 | 137.76 | -0.10% | ¥1000 |
| 2024 | 1027.55 | 0.08% | ¥7458.99 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of ¥1000 in 1971
¥1000 in the year 1971 is now worth ¥7458.99 in 2024, showing a substantial increase of ¥6458.99 over the years. This change underscores how the average inflation rate of 3.92% annually has eroded the purchasing power of the Chinese Yuan.