The Impact of Inflation on value of $8 from 1919 to 2024
In 1913 the price of $8 is approximately equal to $143.52 in 2024. Prices changed by 2.98% (or $1.29) per year on average during that period. It means that every purchase will cost you 17.94 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 $8 in 1919 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 $8 in 1919 Worth Today?
- Converted Amount: The $8 from 1919, adjusted for inflation, would be equivalent to $143.52 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 1693.98%.
- Average Inflation Rate: The average annual inflation rate between 1919 and 2024 has been 2.98%.
| Cumulative price change | 1693.98% |
| Average inflation rate | 2.98% |
| Converted amount | 143.52 |
| Price difference | 135.52 |
| CPI in 1919 | 17.3 |
| CPI in 2024 | 310.358 |
| Inflation in 1919 | 14.57% |
| Inflation in 2024 | 1.86% |
| 8 in 1919 | 143.52 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 1919: 17.3
- CPI in 2024: 310.358
Inflation Rate at 1919 and 2024
- Inflation in 1919: 14.57%
- Inflation in 2024: 1.86%
Price Difference
- The price difference between 1919 and 2024 is $135.52.
1919 to 2024 Inflation Calculator
To understand the transformation of $8 from 1919 into 2024 US dollars, consider the following table:
| Year | CPI | Inflation rate | Value in 2024 |
|---|---|---|---|
| 1919 | 17.3 | 14.57% | $8 |
| 2024 | 310.358 | 1.86% | $143.52 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of $8 in 1919
$8 in the year 1919 is now worth $143.52 in 2024, showing a substantial increase of $135.52 over the years. This change underscores how the average inflation rate of 2.98% annually has eroded the purchasing power of the US dollar.