According to the Bureau of Labor Statistics, the dollar experienced an average inflation rate of 4.05% per year. Prices in 2016 are 474.2% higher than prices in 1972.
In other words, $7,000,000 in the year 1972 is equivalent to $40,192,559.81 in 2016, a difference of $33,192,559.81 over 44 years.
The inflation rate in 2016 was 1.26%.
Politics and news often play an important role in economic performance.
Inflation Data Source: 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.