U.S. inflation rate in 1988: 4.14%

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U.S. Inflation Rate, 1988-2017 ($1)

The consumer price index (CPI) in 1988 was 118.3. 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 2.54% per year. Prices in 2017 are 107.0% higher than prices in 1988.

In other words, $1 in the year 1988 is equivalent to $2.07 in 2017, a difference of $1.07 over 29 years.

The current inflation rate in 2017 is 1.99%1. If this number holds, $1 today will be equivalent to $1.02 next year.

Inflation from 1988 to 2017
Cumulative price change 107.00%
Average inflation rate 2.54%
Price difference ($1 base) $1.07
CPI in 1988 118.3
CPI in 2017 244.786


U.S. inflation from 1913 to 2017


Inflation rates for specific categories

Gasoline (all types) · Financial services · Wireless telephone services · More

Inflation-adjusted measures

S&P 500 price · S&P 500 earnings · Shiller P/E

How to calculate the inflation rate for $1 since 1988

Start with the inflation rate formula:

CPI in 2017 / CPI in 1988 * 1988 USD value = 2017 USD value

Then plug in historical CPI values. The U.S. CPI was 118.3 in the year 1988 and 244.786 in 2017:

244.786 / 118.3 * $1 = $2.07

$1 in 1988 has the same "purchasing power" as $2.07 in 2017.


News headlines from 1988

Politics and news often play an important role in economic performance.

  • The USSR withdraws its troops from Afghanistan.
  • Iran and Iraq, announce a ceasefire after 8 years of war.
  • Approximately 50,000 Kurdish civilians and soldiers are killed by Iraq.
  • Mikhail Gorbachev Chairman becomes president of the USSR.
  • Benazir Bhutto becomes the first female leader of a Muslim country in Pakistan

Inflation Data Source: The Bureau of Labor Statistics' (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.


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