The Impact of Inflation on value of $3000 from 1959 to 2024
In 1913 the price of $3000 is approximately equal to $31995.67 in 2024. Prices changed by 3.70% (or $446.09) per year on average during that period. It means that every purchase will cost you 10.67 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 $3000 in 1959 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 $3000 in 1959 Worth Today?
- Converted Amount: The $3000 from 1959, adjusted for inflation, would be equivalent to $31995.67 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 966.52%.
- Average Inflation Rate: The average annual inflation rate between 1959 and 2024 has been 3.70%.
| Cumulative price change | 966.52% |
| Average inflation rate | 3.70% |
| Converted amount | 31995.67 |
| Price difference | 28995.67 |
| CPI in 1959 | 29.1 |
| CPI in 2024 | 310.358 |
| Inflation in 1959 | 0.69% |
| Inflation in 2024 | 1.86% |
| 3000 in 1959 | 31995.67 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 1959: 29.1
- CPI in 2024: 310.358
Inflation Rate at 1959 and 2024
- Inflation in 1959: 0.69%
- Inflation in 2024: 1.86%
Price Difference
- The price difference between 1959 and 2024 is $28995.67.
1959 to 2024 Inflation Calculator
To understand the transformation of $3000 from 1959 into 2024 US dollars, consider the following table:
| Year | CPI | Inflation rate | Value in 2024 |
|---|---|---|---|
| 1959 | 29.1 | 0.69% | $3000 |
| 2024 | 310.358 | 1.86% | $31995.67 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of $3000 in 1959
$3000 in the year 1959 is now worth $31995.67 in 2024, showing a substantial increase of $28995.67 over the years. This change underscores how the average inflation rate of 3.70% annually has eroded the purchasing power of the US dollar.