$77,000,000 in 1997 → $120,468,698.86 in 2018

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$77,000,000 in 1997 → $120,468,698.86 in 2018

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U.S. Inflation Rate, $77,000,000 in 1997 to 2018

According to the Bureau of Labor Statistics consumer price index, prices in 2018 are 56.45% higher than average prices throughout 1997. The dollar experienced an average inflation rate of 2.15% per year during this period, meaning the real value of a dollar decreased.

In other words, $77,000,000 in 1997 is equivalent in purchasing power to about $120,468,698.86 in 2018, a difference of $43,468,698.86 over 21 years.

The 1997 inflation rate was 2.29%. The inflation rate in 2018 was 2.44%. The 2018 inflation rate is higher compared to the average inflation rate of 2.25% per year between 2018 and 2019.


Inflation from 1997 to 2018
Cumulative price change 56.45%
Average inflation rate 2.15%
Converted amount ($77,000,000 base) $120,468,698.86
Price difference ($77,000,000 base) $43,468,698.86
CPI in 1997 160.500
CPI in 2018 251.107
Inflation in 1997 2.29%
Inflation in 2018 2.44%

USD Inflation since 1913
Annual Rate, U.S. Bureau of Labor Statistics CPI
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Buying power of $77,000,000 in 1997

This chart shows calculation of buying power equivalence, often referred to as "the value of a dollar" over time for $77,000,000 in 1997 (price index tracking began in 1635).

According to the Bureau of Labor Statistics, each of these USD amounts below is equal in terms of what it could buy at the time:

Year Dollar Value Inflation Rate
1997 $77,000,000.00 2.29%
1998 $78,199,376.95 1.56%
1999 $79,926,479.75 2.21%
2000 $82,613,084.11 3.36%
2001 $84,963,862.93 2.85%
2002 $86,307,165.11 1.58%
2003 $88,274,143.30 2.28%
2004 $90,624,922.12 2.66%
2005 $93,695,327.10 3.39%
2006 $96,717,757.01 3.23%
2007 $99,472,485.98 2.85%
2008 $103,291,781.93 3.84%
2009 $102,924,292.83 -0.36%
2010 $104,612,535.83 1.64%
2011 $107,914,660.44 3.16%
2012 $110,147,900.31 2.07%
2013 $111,761,302.18 1.46%
2014 $113,574,280.37 1.62%
2015 $113,709,090.34 0.12%
2016 $115,143,545.17 1.26%
2017 $117,596,510.90 2.13%
2018 $120,468,698.86 2.44%
2019 $123,180,330.22 2.25%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 15 more rows

Inflation by City

Inflation can vary widely by city, even within the United States. Here's how some cities fared in 1997 to 2018 (figures shown are purchasing power equivalents of $77,000,000):

  • Seattle, Washington: 4.31% average rate, $77,000,000 → $186,751,321.84, cumulative change of 142.53%
  • San Diego, California: 4.29% average rate, $77,000,000 → $185,847,546.93, cumulative change of 141.36%
  • Atlanta, Georgia: 3.43% average rate, $77,000,000 → $156,437,430.93, cumulative change of 103.17%
  • San Francisco, California: 2.78% average rate, $77,000,000 → $136,971,181.54, cumulative change of 77.88%
  • Tampa, Florida: 2.48% average rate, $77,000,000 → $128,867,544.78, cumulative change of 67.36%
  • Miami-Fort Lauderdale, Florida: 2.48% average rate, $77,000,000 → $128,831,825.21, cumulative change of 67.31%
  • Denver, Colorado: 2.43% average rate, $77,000,000 → $127,582,327.64, cumulative change of 65.69%
  • Boston, Massachusetts: 2.39% average rate, $77,000,000 → $126,435,483.71, cumulative change of 64.20%
  • New York: 2.27% average rate, $77,000,000 → $123,350,483.95, cumulative change of 60.20%
  • Minneapolis-St Paul, Minnesota: 2.19% average rate, $77,000,000 → $121,381,036.04, cumulative change of 57.64%
  • Houston, Texas: 2.12% average rate, $77,000,000 → $119,735,927.39, cumulative change of 55.50%
  • Dallas-Fort Worth, Texas: 2.07% average rate, $77,000,000 → $118,394,697.95, cumulative change of 53.76%
  • Philadelphia, Pennsylvania: 1.99% average rate, $77,000,000 → $116,406,737.26, cumulative change of 51.18%
  • St Louis, Missouri: 1.94% average rate, $77,000,000 → $115,248,956.83, cumulative change of 49.67%
  • Detroit, Michigan: 1.91% average rate, $77,000,000 → $114,474,525.03, cumulative change of 48.67%
  • Chicago, Illinois: 1.85% average rate, $77,000,000 → $113,175,954.55, cumulative change of 46.98%

Seattle, Washington experienced the highest rate of inflation during the 21 years between 1997 and 2018 (4.31%).

Chicago, Illinois experienced the lowest rate of inflation during the 21 years between 1997 and 2018 (1.85%).

Note that some locations showing 0% inflation may have not yet reported latest data.


Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £77,000,000.00 in 1997 would be equivalent to £136,524,525.91 in 2018, an absolute change of £59,524,525.91 and a cumulative change of 77.30%.

In Canada, CA$77,000,000.00 in 1997 would be equivalent to CA$111,411,504.42 in 2018, an absolute change of CA$34,411,504.42 and a cumulative change of 44.69%.

Compare these numbers to the US's overall absolute change of $43,468,698.86 and total percent change of 56.45%.


Inflation by Spending Category

CPI is the weighted combination of many categories of spending that are tracked by the government. This chart shows the average rate of inflation for select CPI categories between 1997 and 2018.

Compare these values to the overall average of 2.15% per year:

Category Avg Inflation (%) Total Inflation (%) $77,000,000 in 1997 → 2018
Food 2.30 61.22 124,137,587.79
Shelter 2.69 74.53 134,391,007.16
Energy 3.28 97.14 151,795,109.83
Apparel -0.26 -5.42 72,827,305.31
New vehicles 0.07 1.40 78,078,142.33
Used cars and trucks -0.42 -8.41 70,520,483.12
Transportation services 2.67 73.93 133,927,307.20
Medical care services 3.75 116.59 166,770,653.15
Medical care commodities 2.76 77.19 136,433,379.31

It's important to note that not all categories may be tracked since 1997. This table and visualization use the earliest available data for each category.



How to Calculate Inflation Rate for $77,000,000, 1997 to 2018

This inflation calculator uses the following inflation rate formula:

CPI in 2018CPI in 1997
×
1997 USD value
=
2018 USD value

Then plug in historical CPI values. The U.S. CPI was 160.5 in the year 1997 and 251.10683333333 in 2018:

251.10683333333160.5
×
$77,000,000
=
$120,468,698.86

$77,000,000 in 1997 has the same "purchasing power" or "buying power" as $120,468,698.86 in 2018.

To get the total inflation rate for the 21 years between 1997 and 2018, we use the following formula:

CPI in 2018 - CPI in 1997CPI in 1997
×
100
=
Cumulative inflation rate (21 years)

Plugging in the values to this equation, we get:

251.10683333333 - 160.5160.5
×
100
=
56%

Alternate Measurements of Inflation

The above data describe the CPI for all items. Also of note is the Core CPI, which measures inflation for all items except for the more volatile categories of food and energy. Core inflation averaged 2.01% per year between 1997 and 2018 (vs all-CPI inflation of 2.15%), for an inflation total of 51.95%.

When using the core inflation measurement, $77,000,000 in 1997 is equivalent in buying power to $117,000,654.38 in 2018, a difference of $40,000,654.38. Recall that for All Items, the converted amount is $120,468,698.86 with a difference of $43,468,698.86.

In 1997, core inflation was 2.38%.


Comparison to S&P 500 Index

The average inflation rate of 2.15% has a compounding effect between 1997 and 2018. As noted above, this yearly inflation rate compounds to produce an overall price difference of 56.45% over 21 years.

To help put this inflation into perspective, if we had invested $77,000,000 in the S&P 500 index in 1997, our investment would be nominally worth approximately $391,425,223.59 in 2018. This is a return on investment of 408.34%, with an absolute return of $314,425,223.59.

These numbers are not inflation adjusted, so they are considered nominal. In order to evaluate the real return on our investment, we must calculate the return with inflation taken into account.

The compounding effect of inflation would account for 36.08% of returns ($113,453,996.66) during this period. This means the inflation-adjusted real return of our $77,000,000 investment is $200,971,226.93.

Investment in S&P 500 Index, 1997-2018
Original Amount Final Amount Change
Nominal $77,000,000 $391,425,223.59 408.34%
Real
Inflation Adjusted
$77,000,000 $200,971,226.93 261.00%


News headlines from 1997

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.

Data Source & Citation

Raw data for these calculations comes from the Bureau of Labor Statistics' (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: “$77,000,000 in 1997 → 2018 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 16 Oct. 2019, https://www.officialdata.org/1997-dollars-in-2018?amount=77000000.

Special thanks to QuickChart for providing downloadable chart images.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


» Read more about inflation and investment.

Inflation from 1997 to 2018
Cumulative price change 56.45%
Average inflation rate 2.15%
Converted amount ($77,000,000 base) $120,468,698.86
Price difference ($77,000,000 base) $43,468,698.86
CPI in 1997 160.500
CPI in 2018 251.107
Inflation in 1997 2.29%
Inflation in 2018 2.44%
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