The consumer price index (CPI) in 1983 was 99.6. 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 2.65% per year. Prices in 2018 are 150.0% higher than prices in 1983.

In other words, $1 in the year 1983 is equivalent in purchasing power to $2.50 in 2018, a difference of $1.50 over 35 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 | 150.00% |

Average inflation rate | 2.65% |

Price difference ($1 base) | $1.50 |

CPI in 1983 | 99.6 |

CPI in 2018 | 248.991 |

CPI in 2018 / CPI in 1983 * 1983 USD value = 2018 USD value

Then plug in historical CPI values. The U.S. CPI was 99.6 in the year 1983 and 248.991 in 2018:

248.991 / 99.6 * $1 =

$1 in 1983 has the same "purchasing power" as $2.50 in 2018.

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

- 26 million pounds in gold, diamonds and cash is stolen from Brink's-Mat warehouse at Heathrow Airport in London, which is considered to be one of the world's greatest robberies.
- Ronald Reagan ends the United States embargo against Guatemala.

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 1983 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 22 Apr. 2018, http://www.in2013dollars.com/inflation-rate-in-1983.