The consumer price index (CPI) in 1960 was 29.6. the Bureau of Labor Statistics uses this CPI value to track inflation on a monthly basis.

According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 3.74% per year. Prices in 2018 are 741.0% higher than prices in 1960.

In other words, $1 in the year 1960 is equivalent in purchasing power to $8.41 in 2018, a difference of $7.41 over 58 years.

The
current inflation rate
in 2018 is 1.72%^{1}. If this number holds, $1 today will be equivalent to $1.02 next year.

Cumulative price change | 741.00% |

Average inflation rate | 3.74% |

Price difference ($1 base) | $7.41 |

CPI in 1960 | 29.6 |

CPI in 2018 | 248.991 |

CPI in 2018 / CPI in 1960 * 1960 USD value = 2018 USD value

Then plug in historical CPI values. The U.S. CPI was 29.6 in the year 1960 and 248.991 in 2018:

248.991 / 29.6 * $1 =

$1 in 1960 has the same "purchasing power" as $8.41 in 2018.

Politics and news often influence economic performance. Here's what was happening at the time:

- Johnny Cash plays his first concert in a prison.
- The Bank of France issues new franc currency, worth 100 times the value of old francs.
- France grants independence to Cameroon (previously French Cameroon) after years of fighting.
- Guided missiles are launched for the first time from a nuclear powered submarine

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 1960 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 21 Mar. 2018, http://www.in2013dollars.com/inflation-rate-in-1960.