According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 3.96% per year. Prices in 2017 are 451.3% higher than prices in 1973.
In other words, $6,000,000 in the year 1973 is equivalent in purchasing power to $33,079,189.19 in 2017, a difference of $27,079,189.19 over 44 years.
The inflation rate in 2017 was 1.99%.
|Cumulative price change||451.32%|
|Average inflation rate||3.96%|
|Price difference ($6,000,000 base)||$27,079,189.19|
|CPI in 1973||44.4|
|CPI in 2017||244.786|
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: “$6,000,000 in 1973 → 2017 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 23 Mar. 2018, http://www.in2013dollars.com/1973-dollars-in-2017?amount=6000000.