According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 2.23% per year. Prices in 2015 are 45.4% higher than prices in 1998.
In other words, $100 in the year 1998 is equivalent in purchasing power to $145.41 in 2015, a difference of $45.41 over 17 years.
The inflation rate in 2015 was 0.12%.
|Cumulative price change||45.41%|
|Average inflation rate||2.23%|
|Price difference ($100 base)||$45.41|
|CPI in 1998||163|
|CPI in 2015||237.017|
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: “1998 dollars in 2015 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 18 Apr. 2018, http://www.in2013dollars.com/1998-dollars-in-2015.