According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 2,284.11% higher in 2024 versus 1917 (a $1,416,145.90 difference in value).
Between 1917 and 2024: Detroit experienced an average inflation rate of 3.01% per year. This rate of change indicates significant inflation. In other words, $62,000 in Detroit in the year 1917 would cost $1,478,145.90 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.02% during this same period, inflation in Detroit was lower.
In the year 1917: Pricing changed by 16.45%, which is significantly above the average yearly change in Detroit during the 1917-2024 time period. Compared to inflation for all items in 1917 (17.81%), inflation in Detroit was lower.
Below are calculations of equivalent buying power in Detroit, over time, for $62,000 beginning in 1917. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1917 | $62,000.00 | 16.45% |
1918 | $75,570.63 | 21.89% |
1919 | $91,786.01 | 21.46% |
1920 | $111,903.50 | 21.92% |
1921 | $101,541.26 | -9.26% |
1922 | $90,745.45 | -10.63% |
1923 | $93,433.57 | 2.96% |
1924 | $93,910.49 | 0.51% |
1925 | $94,474.13 | 0.60% |
1926 | $96,078.32 | 1.70% |
1927 | $94,474.13 | -1.67% |
1928 | $91,179.02 | -3.49% |
1929 | $91,092.31 | -0.10% |
1930 | $89,574.83 | -1.67% |
1931 | $78,995.80 | -11.81% |
1932 | $68,937.06 | -12.73% |
1933 | $62,000.00 | -10.06% |
1934 | $65,511.89 | 5.66% |
1935 | $69,023.78 | 5.36% |
1936 | $71,928.67 | 4.21% |
1937 | $76,004.20 | 5.67% |
1938 | $75,613.99 | -0.51% |
1939 | $73,012.59 | -3.44% |
1940 | $73,446.15 | 0.59% |
1941 | $78,041.96 | 6.26% |
1942 | $86,669.93 | 11.06% |
1943 | $91,395.80 | 5.45% |
1944 | $92,609.79 | 1.33% |
1945 | $95,081.12 | 2.67% |
1946 | $103,362.24 | 8.71% |
1947 | $117,800.00 | 13.97% |
1948 | $127,295.10 | 8.06% |
1949 | $125,647.55 | -1.29% |
1950 | $127,728.67 | 1.66% |
1951 | $137,744.06 | 7.84% |
1952 | $141,212.59 | 2.52% |
1953 | $143,727.27 | 1.78% |
1954 | $144,247.55 | 0.36% |
1955 | $143,987.41 | -0.18% |
1956 | $146,675.52 | 1.87% |
1957 | $150,967.83 | 2.93% |
1958 | $153,048.95 | 1.38% |
1959 | $153,005.59 | -0.03% |
1960 | $154,262.94 | 0.82% |
1961 | $155,130.07 | 0.56% |
1962 | $155,606.99 | 0.31% |
1963 | $157,124.48 | 0.98% |
1964 | $158,425.17 | 0.83% |
1965 | $162,067.13 | 2.30% |
1966 | $169,264.34 | 4.44% |
1967 | $174,944.06 | 3.36% |
1968 | $182,488.11 | 4.31% |
1969 | $193,587.41 | 6.08% |
1970 | $205,553.85 | 6.18% |
1971 | $213,054.55 | 3.65% |
1972 | $220,945.45 | 3.70% |
1973 | $235,339.86 | 6.51% |
1974 | $260,833.57 | 10.83% |
1975 | $280,257.34 | 7.45% |
1976 | $295,475.52 | 5.43% |
1977 | $315,766.43 | 6.87% |
1978 | $339,742.66 | 7.59% |
1979 | $382,925.87 | 12.71% |
1980 | $443,798.60 | 15.90% |
1981 | $484,987.41 | 9.28% |
1982 | $504,627.97 | 4.05% |
1983 | $519,022.38 | 2.85% |
1984 | $537,188.81 | 3.50% |
1985 | $555,875.52 | 3.48% |
1986 | $563,636.36 | 1.40% |
1987 | $580,718.88 | 3.03% |
1988 | $602,787.41 | 3.80% |
1989 | $634,784.62 | 5.31% |
1990 | $667,432.17 | 5.14% |
1991 | $691,798.60 | 3.65% |
1992 | $706,323.08 | 2.10% |
1993 | $725,400.00 | 2.70% |
1994 | $748,292.31 | 3.16% |
1995 | $771,921.68 | 3.16% |
1996 | $792,819.58 | 2.71% |
1997 | $812,416.78 | 2.47% |
1998 | $830,409.79 | 2.21% |
1999 | $852,044.76 | 2.61% |
2000 | $882,004.20 | 3.52% |
2001 | $907,020.98 | 2.84% |
2002 | $929,653.15 | 2.50% |
2003 | $949,337.06 | 2.12% |
2004 | $963,904.90 | 1.53% |
2005 | $991,436.36 | 2.86% |
2006 | $1,021,829.37 | 3.07% |
2007 | $1,040,414.20 | 1.82% |
2008 | $1,065,766.99 | 2.44% |
2009 | $1,057,477.64 | -0.78% |
2010 | $1,066,475.44 | 0.85% |
2011 | $1,100,209.94 | 3.16% |
2012 | $1,123,572.67 | 2.12% |
2013 | $1,141,564.81 | 1.60% |
2014 | $1,153,933.59 | 1.08% |
2015 | $1,138,723.65 | -1.32% |
2016 | $1,155,350.92 | 1.46% |
2017 | $1,178,841.99 | 2.03% |
2018 | $1,207,805.52 | 2.46% |
2019 | $1,223,792.42 | 1.32% |
2020 | $1,236,254.42 | 1.02% |
2021 | $1,287,383.17 | 4.14% |
2022 | $1,393,044.18 | 8.21% |
2023 | $1,468,854.57 | 5.44% |
2024 | $1,478,145.90 | 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 |