Inflation Calculator
U.S. Inflation Rate, 1963-2018 ($1)
The consumer price index (CPI) in 1963 was 30.6. 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 3.89% per year. Prices in 2018 are 714.0% higher than prices in 1963.
In other words, $1 in the year 1963 is equivalent in purchasing power to $8.14 in 2018, a difference of $7.14 over 55 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 | 714.00% |
| Average inflation rate | 3.89% |
| Price difference ($1 base) | $7.14 |
| CPI in 1963 | 30.6 |
| CPI in 2018 | 248.991 |
Inflation rates for specific categories
Televisions · Educational books and supplies · Wireless telephone services · More
How to calculate the inflation rate for $1 since 1963
Start with the inflation rate formula:CPI in 2018 / CPI in 1963 * 1963 USD value = 2018 USD value
Then plug in historical CPI values. The U.S. CPI was 30.6 in the year 1963 and 248.991 in 2018:
248.991 / 30.6 * $1 = $8.14
$1 in 1963 has the same "purchasing power" as $8.14 in 2018.
News headlines from 1963
Politics and news often influence economic performance. Here's what was happening at the time:
- Iran is besieged and Ayatollah Khomeini is arrested.
- President John F. Kennedy says segregation is morally wrong and appeals for action.
- Sarawak is granted independence from British colonial rule.
- The "I have a dream" speech is delivered by Martin Luther King Jr addressing civil rights march in Washington.
- John F. Kennedy is assassinated by Lee Harvey Oswald in Dallas.
Inflation Data Source
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 1963 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 23 Apr. 2018, http://www.in2013dollars.com/inflation-rate-in-1963.