The Impact of Inflation on value of $55 from 2004 to 2024
In 1913 the price of $55 is approximately equal to $90.36 in 2024. Prices changed by 2.53% (or $1.77) per year on average during that period. It means that every purchase will cost you 1.64 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 $55 in 2004 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 $55 in 2004 Worth Today?
- Converted Amount: The $55 from 2004, adjusted for inflation, would be equivalent to $90.36 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 64.30%.
- Average Inflation Rate: The average annual inflation rate between 2004 and 2024 has been 2.53%.
| Cumulative price change | 64.30% |
| Average inflation rate | 2.53% |
| Converted amount | 90.36 |
| Price difference | 35.36 |
| CPI in 2004 | 188.9 |
| CPI in 2024 | 310.358 |
| Inflation in 2004 | 2.66% |
| Inflation in 2024 | 1.86% |
| 55 in 2004 | 90.36 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 2004: 188.9
- CPI in 2024: 310.358
Inflation Rate at 2004 and 2024
- Inflation in 2004: 2.66%
- Inflation in 2024: 1.86%
Price Difference
- The price difference between 2004 and 2024 is $35.36.
2004 to 2024 Inflation Calculator
To understand the transformation of $55 from 2004 into 2024 US dollars, consider the following table:
| Year | CPI | Inflation rate | Value in 2024 |
|---|---|---|---|
| 2004 | 188.9 | 2.66% | $55 |
| 2024 | 310.358 | 1.86% | $90.36 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of $55 in 2004
$55 in the year 2004 is now worth $90.36 in 2024, showing a substantial increase of $35.36 over the years. This change underscores how the average inflation rate of 2.53% annually has eroded the purchasing power of the US dollar.