Purchasing power decreased by 7.88% in 1951 compared to the previous year, 1950. On average, you would have to spend 7.88% more money in 1951 than in 1950 for the same item.
In other words, $100 in 1950 is equivalent in purchasing power to $107.88 in 1951.
The 1950 inflation rate was 1.26%. The inflation rate in 1951 was 7.88%. The 1951 inflation rate is higher compared to the average inflation rate of 3.45% per year between 1951 and 2018.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1951 was 26. It was 24.1 in the previous year, 1950. The difference in CPI between the years is used by the Bureau of Labor Statistics to officially determine inflation.
|Average inflation rate||7.88%|
|Converted amount ($100 base)||$107.88|
|Price difference ($100 base)||$7.88|
|CPI in 1950||24.1|
|CPI in 1951||26|
|Inflation in 1950||1.26%|
|Inflation in 1951||7.88%|
Inflation can vary widely by city, even within the United States. Here's how some cities fared in 1950 to 1951 (figures shown are purchasing power equivalents of $100):
Atlanta, Georgia experienced the highest rate of inflation during the 1 years between 1950 and 1951 (9.53%).
Boston, Massachusetts experienced the lowest rate of inflation during the 1 years between 1950 and 1951 (6.69%).
Inflation can also vary widely by country. For comparison, in the UK £100.00 in 1950 would be equivalent to £109.09 in 1951, an absolute change of £9.09 and a cumulative change of 9.09%.
In Canada, CA$100.00 in 1950 would be equivalent to CA$110.85 in 1951, an absolute change of CA$10.85 and a cumulative change of 10.85%.
Compare these numbers to the US's overall absolute change of $7.88 and total percent change of 7.88%.
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 1950 and 1951.
Compare these values to the overall average of 7.88% per year:
|Category||Avg Inflation (%)||Total Inflation (%)||$100 in 1950 → 1951|
|Used cars and trucks||0.00||0.00||100.00|
|Medical care services||4.98||4.98||104.98|
|Medical care commodities||0.00||0.00||100.00|
It's important to note that not all categories may be tracked since 1950. This table and visualization use the earliest available data for each category.
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The U.S. CPI was 24.1 in the year 1950 and 26 in 1951:
$100 in 1950 has the same "purchasing power" or "buying power" as $107.88 in 1951.
To get the total inflation rate for the 1 years between 1950 and 1951, we use the following formula:
Plugging in the values to this equation, we get:
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: “Inflation Rate in 1951 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Sep. 2018, https://www.officialdata.org/inflation-rate-in-1951.
in2013dollars.com is a reference website maintained by the Official Data Foundation.