According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 3.60% per year. Prices in 2018 are 829.1% higher than prices in 1955.
In other words, $6,000 in the year 1955 is equivalent in purchasing power to $55,744.25 in 2018, a difference of $49,744.25 over 63 years.
|Cumulative price change||829.07%|
|Average inflation rate||3.60%|
|Price difference ($6,000 base)||$49,744.25|
|CPI in 1955||26.8|
|CPI in 2018||248.991|
Politics and news often influence economic performance. Here's what was happening at the time:
Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (CPI), established in 1913. Inflation data from 1665 to 1912 is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University.
You may use the following MLA citation for this page: “$6,000 in 1955 → 2018 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 24 Mar. 2018, http://www.in2013dollars.com/1955-dollars-in-2018?amount=6000.