The Impact of Inflation on value of $1000 from 1949 to 2024
In 1913 the price of $1000 is approximately equal to $13040.25 in 2024. Prices changed by 3.46% (or $160.54) per year on average during that period. It means that every purchase will cost you 13.04 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 1949 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 1949 Worth Today?
- Converted Amount: The $1000 from 1949, adjusted for inflation, would be equivalent to $13040.25 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 1204.03%.
- Average Inflation Rate: The average annual inflation rate between 1949 and 2024 has been 3.46%.
| Cumulative price change | 1204.03% |
| Average inflation rate | 3.46% |
| Converted amount | 13040.25 |
| Price difference | 12040.25 |
| CPI in 1949 | 23.8 |
| CPI in 2024 | 310.358 |
| Inflation in 1949 | -1.24% |
| Inflation in 2024 | 1.86% |
| 1000 in 1949 | 13040.25 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 1949: 23.8
- CPI in 2024: 310.358
Inflation Rate at 1949 and 2024
- Inflation in 1949: -1.24%
- Inflation in 2024: 1.86%
Price Difference
- The price difference between 1949 and 2024 is $12040.25.
1949 to 2024 Inflation Calculator
To understand the transformation of $1000 from 1949 into 2024 US dollars, consider the following table:
| Year | CPI | Inflation rate | Value in 2024 |
|---|---|---|---|
| 1949 | 23.8 | -1.24% | $1000 |
| 2024 | 310.358 | 1.86% | $13040.25 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of $1000 in 1949
$1000 in the year 1949 is now worth $13040.25 in 2024, showing a substantial increase of $12040.25 over the years. This change underscores how the average inflation rate of 3.46% annually has eroded the purchasing power of the US dollar.