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 consumer price index, the dollar experienced an average inflation rate of 1.41% per year. Prices in 2018 are 15.0% higher than prices in 2008.

In other words, $1 in the year 2008 is equivalent in purchasing power to $1.15 in 2018, a difference of $0.15 over 10 years.

The
current inflation rate
in 2018 is 0.77%^{1}. If this number holds, $1 today will be equivalent to $1.01 next year.

Cumulative price change | 15.00% |

Average inflation rate | 1.41% |

Price difference ($1 base) | $0.15 |

CPI in 2008 | 215.303 |

CPI in 2018 | 246.669 |

CPI in 2018 / CPI in 2008 * 2008 USD value = 2018 USD value

Then plug in historical CPI values. The U.S. CPI was 215.303 in the year 2008 and 246.669 in 2018:

246.669 / 215.303 * $1 =

$1 in 2008 has the same "purchasing power" as $1.15 in 2018.

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

- 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.

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 2008 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 17 Jan. 2018, http://www.in2013dollars.com/inflation-rate-in-2008.