U.S. inflation rate in 2014: 1.62%

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Inflation in 2014 and Its Effect on Dollar Value

Purchasing power decreased by 1.62% in 2014 compared to the previous year, 2013. On average, you would have to spend 1.62% more money in 2014 than in 2013 for the same item.

In other words, $100 in 2013 is equivalent in purchasing power to $101.62 in 2014.

The 2013 inflation rate was 1.46%. The inflation rate in 2014 was 1.62%. The 2014 inflation rate is higher compared to the average inflation rate of 1.59% per year between 2014 and 2018.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2014 was 236.736. It was 232.957 in the previous year, 2013. The difference in CPI between the years is used by the Bureau of Labor Statistics to officially determine inflation.


Inflation from 2013 to 2014
Average inflation rate 1.62%
Converted amount ($100 base) $101.62
Price difference ($100 base) $1.62
CPI in 2013 232.957
CPI in 2014 236.736
Inflation in 2013 1.46%
Inflation in 2014 1.62%


U.S. Inflation since 1913
Annual Rate, U.S. Bureau of Labor Statistics CPI

Inflation by City

Inflation can vary widely by city, even within the United States. Here's how some cities fared in 2013 to 2014 (figures shown are purchasing power equivalents of $100):

Houston, Texas experienced the highest rate of inflation during the 1 years between 2013 and 2014 (2.89%).

St Louis, Missouri experienced the lowest rate of inflation during the 1 years between 2013 and 2014 (1.03%).


Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £100.00 in 2013 would be equivalent to £102.36 in 2014, an absolute change of £2.36 and a cumulative change of 2.36%.

In Canada, CA$100.00 in 2013 would be equivalent to CA$101.47 in 2014, an absolute change of CA$1.47 and a cumulative change of 1.47%.

Compare these numbers to the US's overall absolute change of $1.62 and total percent change of 1.62%.


Inflation by Spending Category

CPI is the weighted combination of many categories of spending that are tracked by the government. This chart shows the average rate of inflation for select CPI categories between 2013 and 2014.

Compare these values to the overall average of 1.62% per year:

Category Avg Inflation (%) Total Inflation (%) $100 in 2013 → 2014
Food 2.40 2.40 102.40
Shelter 2.83 2.83 102.83
Energy -0.45 -0.45 99.55
Apparel 0.08 0.08 100.08
New vehicles 0.34 0.34 100.34
Used cars and trucks -0.53 -0.53 99.47
Transportation services 1.88 1.88 101.88
Medical care services 2.38 2.38 102.38
Medical care commodities 2.48 2.48 102.48

It's important to note that not all categories may be tracked since 2013. This table and visualization use the earliest available data for each category.



How to Calculate Inflation Rate for $100, 2013 to 2014

This inflation calculator uses the following inflation rate formula:

CPI in 2014CPI in 2013
×
2013 USD value
=
2014 USD value

Then plug in historical CPI values. The U.S. CPI was 232.957 in the year 2013 and 236.736 in 2014:

236.736232.957
×
$100
=
$101.62

$100 in 2013 has the same "purchasing power" or "buying power" as $101.62 in 2014.

To get the total inflation rate for the 1 years between 2013 and 2014, we use the following formula:

CPI in 2014 - CPI in 2013CPI in 2013
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

236.736 - 232.957232.957
×
100
=
2%

Alternate Measurements of Inflation

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 1.75% per year between 2013 and 2014 (vs all-CPI inflation of 1.62%), for an inflation total of 1.75%.

When using the core inflation measurement, $100 in 2013 is equivalent in buying power to $101.75 in 2014, a difference of $1.75. Recall that for All Items, the converted amount is $101.62 with a difference of $1.62.

In 2013, core inflation was 1.76%.

Chained CPI is an alternative measurement that takes into account how consumers adjust spending for similar items. Chained inflation averaged 1.45% per year between 2013 and 2014, a total inflation amount of 1.75%.

According to the Chained CPI measurement, $100 in 2013 is equal in buying power to $101.45 in 2014, a difference of $1.45 (versus a converted amount of $101.62/change of $1.62 for All Items).

In 2013, chained inflation was 1.22%.


News headlines from 2013

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

  • 100,000 people march in Dhaka demanding justice for the atrocities committed during the Bangladesh Liberation War.
  • Pope Benedict XVI resigns, becoming the first pope to do so since 1415.
  • Two explosions near the finish line of the Boston Marathon, kill 3 and injure 183 people,
  • Xi Jinping becomes President of the People's Republic of China.

Data Source & Citation

Raw data for these calculations comes from 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.

You may use the following MLA citation for this page: “Inflation Rate in 2014 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 26 Sep. 2018, https://www.officialdata.org/inflation-rate-in-2014.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


» Read more about inflation.