The consumer price index (CPI) in 2002 was 179.9. It was 177.1 in the previous year. This change in CPI is used by the Bureau of Labor Statistics to calculate inflation.
According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 2.13% per year. Prices in 2018 are 40.07% higher than prices in 2002.
In other words, $100 in 2002 is equivalent in purchasing power to $140.07 in 2018, a difference of $40.07 over 16 years.
The current inflation rate is now 2.87%1. If this number holds, $100 today will be equivalent to $102.87 next year. The current inflation rate page gives more detail on the latest official inflation rates.
|Cumulative price change||40.07%|
|Average inflation rate||2.13%|
|Converted amount ($100 base)||$140.07|
|Price difference ($100 base)||$40.07|
|CPI in 2002||179.9|
|CPI in 2018||251.989|
The above data describe the CPI for all items. Also of note is the Core CPI, which measures inflation for all items except for the more volatile categories of food and energy. Core inflation averaged 1.87% per year between 2002 and 2018 (vs all-CPI inflation of 2.13%).
When using the core inflation measurement, $100 in 2002 is equivalent in buying power to $134.59 in 2018, a difference of $34.59. Recall that for All Items, the converted amount is $140.07 with a difference of $40.07.
In 2002, core inflation was 2.32%.
Chained CPI is an alternative measurement that takes into account how consumers adjust spending for similar items. Chained inflation averaged 1.86% per year between 2002 and 2018.
According to the Chained CPI measurement, $100 in 2002 is equal in buying power to $134.23 in 2018, a difference of $34.23 (versus a converted amount of $140.07/change of $40.07 for All Items).
In 2002, chained inflation was 1.26%.
CPI is the weighted combination of many categories. This chart shows the average rate of inflation for select CPI categories between 2002 and 2018.
Compare these values to the overall average of 2.13% per year:
|Category||Avg Inflation (%)||$100 in 2002 → 2018|
|Used cars and trucks||-0.58||91.14|
|Medical care services||3.61||176.28|
|Medical care commodities||2.53||149.12|
It's important to note that not all categories may be tracked since 2002. This table and visualization use the earliest available data for each category.
This inflation calculator uses the following inflation rate formula:
CPI in 2018 / CPI in 2002 * 2002 USD value = 2018 USD value
Then plug in historical CPI values. The U.S. CPI was 179.9 in the year 2002 and 251.989 in 2018:
251.989 / 179.9 * $100 = $140.07
$100 in 2002 has the same "purchasing power" or "buying power" as $140.07 in 2018.
This chart shows calculations of buying power equivalence over time for $100 in 2002 (price index tracking began in 1913).
According to the Bureau of Labor Statistics, each of these USD amounts below is equal in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
Politics and news often influence economic performance. Here's what was happening at the time:
Inflation can vary widely by country. For comparison, in the UK £100.00 in 2002 would be equivalent to £158.00 in 2018, an absolute change of £58.00 and a cumulative change of 158.00%.
In Canada, CA$100.00 in 2002 would be equivalent to CA$131.85 in 2018, an absolute change of CA$31.85 and a cumulative change of 131.85%.
Compare these numbers to the US's absolute change of $40.07 and percent change of 40.07%.
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 2002 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Jul. 2018, https://www.officialdata.org/inflation-rate-in-2002.
in2013dollars.com is a reference website maintained by the Official Data Foundation.