Boston, Massachusetts prices: $705 in 1972 $5,351.14 in 2024

Inflation in Massachusetts

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Prices in Boston, 1972-2024 ($705)

According to the U.S. Bureau of Labor Statistics, prices in Boston, Massachusetts are 659.03% higher in 2024 versus 1972 (a $4,646.14 difference in value).

Between 1972 and 2024: Boston experienced an average inflation rate of 3.97% per year. This rate of change indicates significant inflation. In other words, $705 in Boston in the year 1972 would cost $5,351.14 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.92% during this same period, inflation in Boston was higher.

In the year 1972: Pricing changed by 3.57%, which is below the average yearly change in Boston during the 1972-2024 time period. Compared to inflation for all items in 1972 (3.27%), inflation in Boston was higher.

Price Inflation in Boston, Massachusetts since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1919 (21.27%), 1918 (17.79%), and 1920 (17.25%).

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Buying power of $705.00 since 1972

Below are calculations of equivalent buying power in Boston, over time, for $705 beginning in 1972. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1972$705.003.57%
1973$744.235.57%
1974$821.0810.33%
1975$895.109.01%
1976$967.918.13%
1977$1,017.255.10%
1978$1,071.595.34%
1979$1,179.4510.07%
1980$1,329.1012.69%
1981$1,480.1111.36%
1982$1,543.484.28%
1983$1,611.704.42%
1984$1,690.984.92%
1985$1,765.944.43%
1986$1,814.212.73%
1987$1,891.594.27%
1988$2,002.695.87%
1989$2,119.455.83%
1990$2,242.145.79%
1991$2,343.804.53%
1992$2,400.962.44%
1993$2,472.422.98%
1994$2,503.701.27%
1995$2,563.832.40%
1996$2,638.802.92%
1997$2,714.842.88%
1998$2,776.052.25%
1999$2,843.192.42%
2000$2,965.074.29%
2001$3,096.394.43%
2002$3,175.402.55%
2003$3,292.973.70%
2004$3,387.342.87%
2005$3,494.663.17%
2006$3,606.303.19%
2007$3,674.181.88%
2008$3,808.913.67%
2009$3,777.95-0.81%
2010$3,839.941.64%
2011$3,941.672.65%
2012$4,005.331.62%
2013$4,061.051.39%
2014$4,127.671.64%
2015$4,153.840.63%
2016$4,211.101.38%
2017$4,318.522.55%
2018$4,457.813.23%
2019$4,547.322.01%
2020$4,596.271.08%
2021$4,738.403.09%
2022$5,079.857.21%
2023$5,269.793.74%
2024$5,351.141.54%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.


Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Boston, Massachusetts:

Year191419151916191719181919192019211922192319241925192619271928192919301931193219331934193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI10.50010.51710.81712.27514.45817.53320.55818.71717.05817.31717.43317.62518.27518.08317.73317.65017.52516.16714.57513.60814.03314.32514.40814.73314.35814.14214.27514.90816.50017.36717.55817.91719.38322.06723.88323.59223.90025.50026.05826.12526.22526.35027.07528.02528.92529.15029.70030.15030.80031.42531.85032.45033.45034.32535.67537.65039.95042.07543.57546.00050.75055.32559.82562.87566.23372.90082.15091.48395.40099.617104.517109.150112.133116.917123.783131.000138.583144.867148.400152.817154.750158.467163.100167.800171.583175.733183.267191.383196.267203.533209.367216.000222.900227.096235.423233.509237.341243.629247.564251.007255.125256.743260.282266.921275.531281.063284.089292.873313.978325.718330.746

Adjust Boston prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1972 * 1972 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Boston, Massachusetts was 43.575 in the year 1972 and 330.746 in 2024:

330.746 / 43.575 * $705 = $5,351.14

Therefore, according to U.S. Bureau of Labor Statistics, $705 in 1972 has the same "purchasing power" as $5,351.14 in 2024 (in the CPI category of Boston, Massachusetts).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Boston, Massachusetts in 1914. In addition to Boston, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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