The consumer price index (CPI) in 1974 was 49.3. 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 3.80% per year. Prices in 2017 are 397.0% higher than prices in 1974.
In other words, $1 in the year 1974 is equivalent to $4.97 in 2017, a difference of $3.97 over 43 years.
|Cumulative price change||397.00%|
|Average inflation rate||3.80%|
|Price difference ($1 base)||$3.97|
|CPI in 1974||49.3|
|CPI in 2017||244.786|
Politics and news often play an important role in economic performance.
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.