The consumer price index (CPI) in 2008 was 215.303. 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 1.47% per year. Prices in 2017 are 14.0% higher than prices in 2008.

In other words, $1 in the year 2008 is equivalent to $1.14 in 2017, a difference of $0.14 over 9 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.

Cumulative price change | 14.00% |

Average inflation rate | 1.47% |

Price difference ($1 base) | $0.14 |

CPI in 2008 | 215.303 |

CPI in 2017 | 244.786 |

CPI in 2017 / CPI in 2008 * 2008 USD value = 2017 USD value

Then plug in historical CPI values. The U.S. CPI was 215.303 in the year 2008 and 244.786 in 2017:

244.786 / 215.303 * $1 =

The "purchasing power" of $1 from 2008 is $1.14 in 2017.

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

- Black Monday: stock markets crash all over the globe, resulting in enormous drops in global stock markets and halts in trading.
- Fidel Castro retires as Cuban President due to ill health, after nearly 50 years in power.
- Barak Obama becomes the first African American to receive the presidential nomination of his party.

**
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.