$1 in 1960 → $0.98 in 1959

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$1 in 1960 → $0.98 in 1959

U.S. Inflation Rate, $1 in 1960 to 1959

According to the Bureau of Labor Statistics consumer price index, prices in 1959 are 1.69% lower than average prices throughout 1960. The dollar experienced an average inflation rate of 1.72% per year during this period, meaning the real value of a dollar decreased.

In other words, $1 in 1960 is equivalent in purchasing power to about $0.98 in 1959.

The 1959 inflation rate was 0.69%. The inflation rate in 1960 was 1.72%. The 1960 inflation rate is lower compared to the average inflation rate of 3.73% per year between 1960 and 2019.


Inflation from 1960 to 1959
Average inflation rate 1.72%
Converted amount ($1 base) $0.98
Price difference ($1 base) $-0.02
CPI in 1960 29.600
CPI in 1959 29.100
Inflation in 1959 0.69%
Inflation in 1960 1.72%

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

Inflation can vary widely by city, even within the United States. Here's how some cities fared in 1960 to 1959 (figures shown are purchasing power equivalents of $1):

San Francisco, California experienced the highest rate of inflation during the 1 years between 1959 and 1960 (2.06%).

Detroit, Michigan experienced the lowest rate of inflation during the 1 years between 1959 and 1960 (0.82%).

Note that some locations showing 0% inflation may have not yet reported latest data.


Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £1.00 in 1960 would be equivalent to £0.99 in 1959, an absolute change of £-0.01 and a cumulative change of -1.02%.

In Canada, CA$1.00 in 1960 would be equivalent to CA$0.99 in 1959, an absolute change of CA$-0.01 and a cumulative change of -1.27%.

Compare these numbers to the US's overall absolute change of $-0.02 and total percent change of -1.69%.


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 1960 and 1959.

Compare these values to the overall average of 1.72% per year:

Category Avg Inflation (%) Total Inflation (%) $1 in 1959 → 1960
Food 1.19 1.19 1.01
Shelter 2.02 2.02 1.02
Energy 2.59 2.59 1.03
Apparel 1.50 1.50 1.02
New vehicles 0.00 0.00 1.00
Used cars and trucks 0.00 0.00 1.00
Transportation services 2.64 2.64 1.03
Medical care services 4.11 4.11 1.04
Medical care commodities 0.04 0.04 1.00

For all these visualizations, it's important to note that not all categories may have been tracked since 1960. This table and charts use the earliest available data for each category.



How to Calculate Inflation Rate for $1, 1959 to 1960

This inflation calculator uses the following inflation rate formula:

CPI in 1959CPI in 1960
×
1960 USD value
=
1959 USD value

Then plug in historical CPI values. The U.S. CPI was 29.6 in the year 1960 and 29.1 in 1959:

29.129.6
×
$1
=
$0.98

$1 in 1960 has the same "purchasing power" or "buying power" as $0.98 in 1959.

To get the total inflation rate for the 1 years between 1959 and 1960, we use the following formula:

CPI in 1959 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

29.1 - 29.629.6
×
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 1.50% per year between 1960 and 1959 (vs all-CPI inflation of 1.72%), for an inflation total of 1.50%.

When using the core inflation measurement, $1 in 1960 is equivalent in buying power to $1.02 in 1959, a difference of $0.02. Recall that for All Items, the converted amount is $0.98 with a difference of $-0.02.

In 1960, core inflation was 2.00%.


News headlines from 1959

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

  • Johnny Cash plays his first concert in a prison.
  • The Bank of France issues new franc currency, worth 100 times the value of old francs.
  • France grants independence to Cameroon (previously French Cameroon) after years of fighting.
  • Guided missiles are launched for the first time from a nuclear powered submarine

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: “$1 in 1960 → 1959 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 21 Nov. 2019, https://www.officialdata.org/1960-dollars-in-1959?amount=1.

Special thanks to QuickChart for providing downloadable chart images.

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


About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Inflation from 1960 to 1959
Average inflation rate 1.72%
Converted amount ($1 base) $0.98
Price difference ($1 base) $-0.02
CPI in 1960 29.600
CPI in 1959 29.100
Inflation in 1959 0.69%
Inflation in 1960 1.72%