The consumer price index (CPI) in 1978 was 65.2. 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 3.45% per year. Prices in 2017 are 275.0% higher than prices in 1978.
In other words, $1 in the year 1978 is equivalent to $3.75 in 2017, a difference of $2.75 over 39 years.
|Cumulative price change||275.00%|
|Average inflation rate||3.45%|
|Price difference ($1 base)||$2.75|
|CPI in 1978||65.2|
|CPI in 2017||244.786|
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.