The Impact of Inflation on value of $10 from 1974 to 2024
In 1913 the price of $10 is approximately equal to $62.95 in 2024. Prices changed by 3.93% (or $1.06) per year on average during that period. It means that every purchase will cost you 6.29 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 $10 in 1974 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 $10 in 1974 Worth Today?
- Converted Amount: The $10 from 1974, adjusted for inflation, would be equivalent to $62.95 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 529.53%.
- Average Inflation Rate: The average annual inflation rate between 1974 and 2024 has been 3.93%.
| Cumulative price change | 529.53% |
| Average inflation rate | 3.93% |
| Converted amount | 62.95 |
| Price difference | 52.95 |
| CPI in 1974 | 49.3 |
| CPI in 2024 | 310.358 |
| Inflation in 1974 | 11.04% |
| Inflation in 2024 | 1.86% |
| 10 in 1974 | 62.95 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 1974: 49.3
- CPI in 2024: 310.358
Inflation Rate at 1974 and 2024
- Inflation in 1974: 11.04%
- Inflation in 2024: 1.86%
Price Difference
- The price difference between 1974 and 2024 is $52.95.
1974 to 2024 Inflation Calculator
To understand the transformation of $10 from 1974 into 2024 US dollars, consider the following table:
| Year | CPI | Inflation rate | Value in 2024 |
|---|---|---|---|
| 1974 | 49.3 | 11.04% | $10 |
| 2024 | 310.358 | 1.86% | $62.95 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of $10 in 1974
$10 in the year 1974 is now worth $62.95 in 2024, showing a substantial increase of $52.95 over the years. This change underscores how the average inflation rate of 3.93% annually has eroded the purchasing power of the US dollar.