According to the Bureau of Labor Statistics, the dollar experienced an average inflation rate of 2.13% per year. Prices in 2017 are 52.5% higher than prices in 1997.

In other words, $20 in the year 1997 is equivalent to $30.50 in 2017, a difference of $10.50 over 20 years.

The
current inflation rate
in 2017 is 1.99%^{1}. If this number holds, $20 today will be equivalent to $20.40 next year.

Cumulative price change | 52.50% |

Average inflation rate | 2.13% |

Price difference ($20 base) | $10.50 |

CPI in 1997 | 160.5 |

CPI in 2017 | 244.786 |

CPI in 2017 / CPI in 1997 * 1997 USD value = 2017 USD value

Then plug in historical CPI values. The U.S. CPI was 160.5 in the year 1997 and 244.786 in 2017:

244.786 / 160.5 * $20 =

$20 in 1997 has the same "purchasing power" as $30.50 in 2017.

Politics and news often influence economic performance. Here's what was happening at the time:

- Production, stockpiling and use of chemical weapons is outlawed as the Chemical Weapons Convention of 1993 comes into force.
- The British lease of the New Territories in Hong Kong expires.
- Diana, Princess of Wales, dies in a car crash in Paris,.
- Hong Kong begins slaughtering chickens to prevent bird flu,.

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: “$20 in 1997 → 2017 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Education, 12 Dec. 2017, http://www.in2013dollars.com/1997-dollars-in-2017?amount=20.