According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 1,912.56% higher in 2024 versus 1940 (a $6,693,950.41 difference in value).
Between 1940 and 2024: Detroit experienced an average inflation rate of 3.64% per year. This rate of change indicates significant inflation. In other words, $350,000 in Detroit in the year 1940 would cost $7,043,950.41 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.76% during this same period, inflation in Detroit was lower.
In the year 1940: Pricing changed by 0.59%, which is significantly below the average yearly change in Detroit during the 1940-2024 time period. Compared to inflation for all items in 1940 (0.72%), inflation in Detroit was lower.
Below are calculations of equivalent buying power in Detroit, over time, for $350,000 beginning in 1940. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1940 | $350,000.00 | 0.59% |
1941 | $371,900.83 | 6.26% |
1942 | $413,016.53 | 11.06% |
1943 | $435,537.19 | 5.45% |
1944 | $441,322.31 | 1.33% |
1945 | $453,099.17 | 2.67% |
1946 | $492,561.98 | 8.71% |
1947 | $561,363.64 | 13.97% |
1948 | $606,611.57 | 8.06% |
1949 | $598,760.33 | -1.29% |
1950 | $608,677.69 | 1.66% |
1951 | $656,404.96 | 7.84% |
1952 | $672,933.88 | 2.52% |
1953 | $684,917.36 | 1.78% |
1954 | $687,396.69 | 0.36% |
1955 | $686,157.02 | -0.18% |
1956 | $698,966.94 | 1.87% |
1957 | $719,421.49 | 2.93% |
1958 | $729,338.84 | 1.38% |
1959 | $729,132.23 | -0.03% |
1960 | $735,123.97 | 0.82% |
1961 | $739,256.20 | 0.56% |
1962 | $741,528.93 | 0.31% |
1963 | $748,760.33 | 0.98% |
1964 | $754,958.68 | 0.83% |
1965 | $772,314.05 | 2.30% |
1966 | $806,611.57 | 4.44% |
1967 | $833,677.69 | 3.36% |
1968 | $869,628.10 | 4.31% |
1969 | $922,520.66 | 6.08% |
1970 | $979,545.45 | 6.18% |
1971 | $1,015,289.26 | 3.65% |
1972 | $1,052,892.56 | 3.70% |
1973 | $1,121,487.60 | 6.51% |
1974 | $1,242,975.21 | 10.83% |
1975 | $1,335,537.19 | 7.45% |
1976 | $1,408,057.85 | 5.43% |
1977 | $1,504,752.07 | 6.87% |
1978 | $1,619,008.26 | 7.59% |
1979 | $1,824,793.39 | 12.71% |
1980 | $2,114,876.03 | 15.90% |
1981 | $2,311,157.02 | 9.28% |
1982 | $2,404,752.07 | 4.05% |
1983 | $2,473,347.11 | 2.85% |
1984 | $2,559,917.36 | 3.50% |
1985 | $2,648,966.94 | 3.48% |
1986 | $2,685,950.41 | 1.40% |
1987 | $2,767,355.37 | 3.03% |
1988 | $2,872,520.66 | 3.80% |
1989 | $3,025,000.00 | 5.31% |
1990 | $3,180,578.51 | 5.14% |
1991 | $3,296,694.21 | 3.65% |
1992 | $3,365,909.09 | 2.10% |
1993 | $3,456,818.18 | 2.70% |
1994 | $3,565,909.09 | 3.16% |
1995 | $3,678,512.40 | 3.16% |
1996 | $3,778,099.17 | 2.71% |
1997 | $3,871,487.60 | 2.47% |
1998 | $3,957,231.40 | 2.21% |
1999 | $4,060,330.58 | 2.61% |
2000 | $4,203,099.17 | 3.52% |
2001 | $4,322,314.05 | 2.84% |
2002 | $4,430,165.29 | 2.50% |
2003 | $4,523,966.94 | 2.12% |
2004 | $4,593,388.43 | 1.53% |
2005 | $4,724,586.78 | 2.86% |
2006 | $4,869,421.49 | 3.07% |
2007 | $4,957,985.54 | 1.82% |
2008 | $5,078,801.65 | 2.44% |
2009 | $5,039,299.59 | -0.78% |
2010 | $5,082,177.69 | 0.85% |
2011 | $5,242,935.95 | 3.16% |
2012 | $5,354,268.60 | 2.12% |
2013 | $5,440,008.26 | 1.60% |
2014 | $5,498,950.41 | 1.08% |
2015 | $5,426,469.01 | -1.32% |
2016 | $5,505,704.55 | 1.46% |
2017 | $5,617,648.76 | 2.03% |
2018 | $5,755,671.49 | 2.46% |
2019 | $5,831,855.37 | 1.32% |
2020 | $5,891,241.74 | 1.02% |
2021 | $6,134,890.50 | 4.14% |
2022 | $6,638,407.02 | 8.21% |
2023 | $6,999,673.55 | 5.44% |
2024 | $7,043,950.41 | 0.63%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Detroit, Michigan:
Year | 1914 | 1915 | 1916 | 1917 | 1918 | 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | 1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
CPI | 9.700 | 9.733 | 10.233 | 11.917 | 14.525 | 17.642 | 21.508 | 19.517 | 17.442 | 17.958 | 18.050 | 18.158 | 18.467 | 18.158 | 17.525 | 17.508 | 17.217 | 15.183 | 13.250 | 11.917 | 12.592 | 13.267 | 13.825 | 14.608 | 14.533 | 14.033 | 14.117 | 15.000 | 16.658 | 17.567 | 17.800 | 18.275 | 19.867 | 22.642 | 24.467 | 24.150 | 24.550 | 26.475 | 27.142 | 27.625 | 27.725 | 27.675 | 28.192 | 29.017 | 29.417 | 29.408 | 29.650 | 29.817 | 29.908 | 30.200 | 30.450 | 31.150 | 32.533 | 33.625 | 35.075 | 37.208 | 39.508 | 40.950 | 42.467 | 45.233 | 50.133 | 53.867 | 56.792 | 60.692 | 65.300 | 73.600 | 85.300 | 93.217 | 96.992 | 99.758 | 103.250 | 106.842 | 108.333 | 111.617 | 115.858 | 122.008 | 128.283 | 132.967 | 135.758 | 139.425 | 143.825 | 148.367 | 152.383 | 156.150 | 159.608 | 163.767 | 169.525 | 174.333 | 178.683 | 182.467 | 185.267 | 190.558 | 196.400 | 199.972 | 204.845 | 203.252 | 204.981 | 211.465 | 215.956 | 219.414 | 221.791 | 218.868 | 222.063 | 226.578 | 232.145 | 235.218 | 237.613 | 247.441 | 267.749 | 282.320 | 284.106 |