According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 2,676.28% higher in 2024 versus 1916 (a $17,395,820.85 difference in value).
Between 1916 and 2024: Detroit experienced an average inflation rate of 3.13% per year. This rate of change indicates significant inflation. In other words, $650,000 in Detroit in the year 1916 would cost $18,045,820.85 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.15% during this same period, inflation in Detroit was lower.
In the year 1916: Pricing changed by 5.14%, which is above the average yearly change in Detroit during the 1916-2024 time period. Compared to inflation for all items in 1916 (7.69%), inflation in Detroit was lower.
Below are calculations of equivalent buying power in Detroit, over time, for $650,000 beginning in 1916. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1916 | $650,000.00 | 5.14% |
1917 | $756,921.82 | 16.45% |
1918 | $922,597.72 | 21.89% |
1919 | $1,120,561.89 | 21.46% |
1920 | $1,366,164.50 | 21.92% |
1921 | $1,239,657.98 | -9.26% |
1922 | $1,107,858.31 | -10.63% |
1923 | $1,140,675.90 | 2.96% |
1924 | $1,146,498.37 | 0.51% |
1925 | $1,153,379.48 | 0.60% |
1926 | $1,172,964.17 | 1.70% |
1927 | $1,153,379.48 | -1.67% |
1928 | $1,113,151.47 | -3.49% |
1929 | $1,112,092.83 | -0.10% |
1930 | $1,093,566.78 | -1.67% |
1931 | $964,413.68 | -11.81% |
1932 | $841,612.38 | -12.73% |
1933 | $756,921.82 | -10.06% |
1934 | $799,796.42 | 5.66% |
1935 | $842,671.01 | 5.36% |
1936 | $878,135.18 | 4.21% |
1937 | $927,890.88 | 5.67% |
1938 | $923,127.04 | -0.51% |
1939 | $891,368.08 | -3.44% |
1940 | $896,661.24 | 0.59% |
1941 | $952,768.73 | 6.26% |
1942 | $1,058,102.61 | 11.06% |
1943 | $1,115,798.05 | 5.45% |
1944 | $1,130,618.89 | 1.33% |
1945 | $1,160,789.90 | 2.67% |
1946 | $1,261,889.25 | 8.71% |
1947 | $1,438,151.47 | 13.97% |
1948 | $1,554,071.66 | 8.06% |
1949 | $1,533,957.65 | -1.29% |
1950 | $1,559,364.82 | 1.66% |
1951 | $1,681,636.81 | 7.84% |
1952 | $1,723,982.08 | 2.52% |
1953 | $1,754,682.41 | 1.78% |
1954 | $1,761,034.20 | 0.36% |
1955 | $1,757,858.31 | -0.18% |
1956 | $1,790,675.90 | 1.87% |
1957 | $1,843,078.18 | 2.93% |
1958 | $1,868,485.34 | 1.38% |
1959 | $1,867,956.03 | -0.03% |
1960 | $1,883,306.19 | 0.82% |
1961 | $1,893,892.51 | 0.56% |
1962 | $1,899,714.98 | 0.31% |
1963 | $1,918,241.04 | 0.98% |
1964 | $1,934,120.52 | 0.83% |
1965 | $1,978,583.06 | 2.30% |
1966 | $2,066,449.51 | 4.44% |
1967 | $2,135,789.90 | 3.36% |
1968 | $2,227,890.88 | 4.31% |
1969 | $2,363,395.77 | 6.08% |
1970 | $2,509,486.97 | 6.18% |
1971 | $2,601,058.63 | 3.65% |
1972 | $2,697,394.14 | 3.70% |
1973 | $2,873,127.04 | 6.51% |
1974 | $3,184,364.82 | 10.83% |
1975 | $3,421,498.37 | 7.45% |
1976 | $3,607,288.27 | 5.43% |
1977 | $3,855,008.14 | 6.87% |
1978 | $4,147,719.87 | 7.59% |
1979 | $4,674,918.57 | 12.71% |
1980 | $5,418,078.18 | 15.90% |
1981 | $5,920,928.34 | 9.28% |
1982 | $6,160,708.47 | 4.05% |
1983 | $6,336,441.37 | 2.85% |
1984 | $6,558,224.76 | 3.50% |
1985 | $6,786,359.93 | 3.48% |
1986 | $6,881,107.49 | 1.40% |
1987 | $7,089,657.98 | 3.03% |
1988 | $7,359,079.80 | 3.80% |
1989 | $7,749,714.98 | 5.31% |
1990 | $8,148,289.90 | 5.14% |
1991 | $8,445,765.47 | 3.65% |
1992 | $8,623,086.32 | 2.10% |
1993 | $8,855,985.34 | 2.70% |
1994 | $9,135,464.17 | 3.16% |
1995 | $9,423,941.37 | 3.16% |
1996 | $9,679,071.66 | 2.71% |
1997 | $9,918,322.48 | 2.47% |
1998 | $10,137,988.60 | 2.21% |
1999 | $10,402,117.26 | 2.61% |
2000 | $10,767,874.59 | 3.52% |
2001 | $11,073,289.90 | 2.84% |
2002 | $11,349,592.83 | 2.50% |
2003 | $11,589,902.28 | 2.12% |
2004 | $11,767,752.44 | 1.53% |
2005 | $12,103,868.08 | 2.86% |
2006 | $12,474,918.57 | 3.07% |
2007 | $12,701,809.85 | 1.82% |
2008 | $13,011,327.36 | 2.44% |
2009 | $12,910,127.44 | -0.78% |
2010 | $13,019,976.38 | 0.85% |
2011 | $13,431,821.25 | 3.16% |
2012 | $13,717,043.16 | 2.12% |
2013 | $13,936,698.70 | 1.60% |
2014 | $14,087,701.95 | 1.08% |
2015 | $13,902,012.62 | -1.32% |
2016 | $14,105,005.29 | 1.46% |
2017 | $14,391,793.97 | 2.03% |
2018 | $14,745,392.92 | 2.46% |
2019 | $14,940,567.59 | 1.32% |
2020 | $15,092,708.88 | 1.02% |
2021 | $15,716,910.02 | 4.14% |
2022 | $17,006,863.60 | 8.21% |
2023 | $17,932,388.44 | 5.44% |
2024 | $18,045,820.85 | 0.63%* |
* 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 Detroit, Michigan:
Year | 1914 | 1915 | 1916 | 1917 | 1918 | 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | 1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
CPI | 9.700 | 9.733 | 10.233 | 11.917 | 14.525 | 17.642 | 21.508 | 19.517 | 17.442 | 17.958 | 18.050 | 18.158 | 18.467 | 18.158 | 17.525 | 17.508 | 17.217 | 15.183 | 13.250 | 11.917 | 12.592 | 13.267 | 13.825 | 14.608 | 14.533 | 14.033 | 14.117 | 15.000 | 16.658 | 17.567 | 17.800 | 18.275 | 19.867 | 22.642 | 24.467 | 24.150 | 24.550 | 26.475 | 27.142 | 27.625 | 27.725 | 27.675 | 28.192 | 29.017 | 29.417 | 29.408 | 29.650 | 29.817 | 29.908 | 30.200 | 30.450 | 31.150 | 32.533 | 33.625 | 35.075 | 37.208 | 39.508 | 40.950 | 42.467 | 45.233 | 50.133 | 53.867 | 56.792 | 60.692 | 65.300 | 73.600 | 85.300 | 93.217 | 96.992 | 99.758 | 103.250 | 106.842 | 108.333 | 111.617 | 115.858 | 122.008 | 128.283 | 132.967 | 135.758 | 139.425 | 143.825 | 148.367 | 152.383 | 156.150 | 159.608 | 163.767 | 169.525 | 174.333 | 178.683 | 182.467 | 185.267 | 190.558 | 196.400 | 199.972 | 204.845 | 203.252 | 204.981 | 211.465 | 215.956 | 219.414 | 221.791 | 218.868 | 222.063 | 226.578 | 232.145 | 235.218 | 237.613 | 247.441 | 267.749 | 282.320 | 284.106 |