The consumer price index (CPI) in 1954 was 26.9. the Bureau of Labor Statistics uses this CPI value to track inflation on a monthly basis.

According to the Bureau of Labor Statistics, the dollar experienced an average inflation rate of 3.57% per year. Prices in 2017 are 810.0% higher than prices in 1954.

In other words, $1 in the year 1954 is equivalent to $9.10 in 2017, a difference of $8.10 over 63 years.

The
current inflation rate
in 2017 is 1.99%^{1}. If this number holds, $1 today will be equivalent to $1.02 next year.

Cumulative price change | 810.00% |

Average inflation rate | 3.57% |

Price difference ($1 base) | $8.10 |

CPI in 1954 | 26.9 |

CPI in 2017 | 244.786 |

CPI in 2017 / CPI in 1954 * 1954 USD value = 2017 USD value

Then plug in historical CPI values. The U.S. CPI was 26.9 in the year 1954 and 244.786 in 2017:

244.786 / 26.9 * $1 =

The "purchasing power" of $1 from 1954 is $9.10 in 2017.

Politics and news often play an important role in economic performance.

- IMB gives the first public demonstration of a machine translation system in their New York, head office.
- Colonel Gamal Abdal Nasser becomes Prime Minister of Egypt.
- 7 years of fighting ends in Indochina after a formal peace agreement is made between the French and the Communist Viet Minh.

**
Inflation Data Source:
**
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.