According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 1,855.98% higher in 2024 versus 1918 (a $742,391.74 difference in value).
Between 1918 and 2024: Detroit experienced an average inflation rate of 2.84% per year. This rate of change indicates significant inflation. In other words, $40,000 in Detroit in the year 1918 would cost $782,391.74 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.89% during this same period, inflation in Detroit was lower.
In the year 1918: Pricing changed by 21.89%, which is significantly above the average yearly change in Detroit during the 1918-2024 time period. Compared to inflation for all items in 1918 (17.34%), inflation in Detroit was much higher.
Below are calculations of equivalent buying power in Detroit, over time, for $40,000 beginning in 1918. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1918 | $40,000.00 | 21.89% |
1919 | $48,582.90 | 21.46% |
1920 | $59,231.21 | 21.92% |
1921 | $53,746.41 | -9.26% |
1922 | $48,032.13 | -10.63% |
1923 | $49,454.96 | 2.96% |
1924 | $49,707.40 | 0.51% |
1925 | $50,005.74 | 0.60% |
1926 | $50,854.85 | 1.70% |
1927 | $50,005.74 | -1.67% |
1928 | $48,261.62 | -3.49% |
1929 | $48,215.72 | -0.10% |
1930 | $47,412.51 | -1.67% |
1931 | $41,812.97 | -11.81% |
1932 | $36,488.81 | -12.73% |
1933 | $32,816.98 | -10.06% |
1934 | $34,675.85 | 5.66% |
1935 | $36,534.71 | 5.36% |
1936 | $38,072.29 | 4.21% |
1937 | $40,229.49 | 5.67% |
1938 | $40,022.95 | -0.51% |
1939 | $38,646.01 | -3.44% |
1940 | $38,875.50 | 0.59% |
1941 | $41,308.09 | 6.26% |
1942 | $45,874.93 | 11.06% |
1943 | $48,376.36 | 5.45% |
1944 | $49,018.93 | 1.33% |
1945 | $50,327.02 | 2.67% |
1946 | $54,710.27 | 8.71% |
1947 | $62,352.27 | 13.97% |
1948 | $67,378.08 | 8.06% |
1949 | $66,506.02 | -1.29% |
1950 | $67,607.57 | 1.66% |
1951 | $72,908.78 | 7.84% |
1952 | $74,744.69 | 2.52% |
1953 | $76,075.73 | 1.78% |
1954 | $76,351.12 | 0.36% |
1955 | $76,213.43 | -0.18% |
1956 | $77,636.26 | 1.87% |
1957 | $79,908.20 | 2.93% |
1958 | $81,009.75 | 1.38% |
1959 | $80,986.80 | -0.03% |
1960 | $81,652.32 | 0.82% |
1961 | $82,111.30 | 0.56% |
1962 | $82,363.74 | 0.31% |
1963 | $83,166.95 | 0.98% |
1964 | $83,855.42 | 0.83% |
1965 | $85,783.13 | 2.30% |
1966 | $89,592.66 | 4.44% |
1967 | $92,598.97 | 3.36% |
1968 | $96,592.08 | 4.31% |
1969 | $102,467.01 | 6.08% |
1970 | $108,800.92 | 6.18% |
1971 | $112,771.08 | 3.65% |
1972 | $116,947.79 | 3.70% |
1973 | $124,566.84 | 6.51% |
1974 | $138,060.81 | 10.83% |
1975 | $148,341.94 | 7.45% |
1976 | $156,397.02 | 5.43% |
1977 | $167,137.12 | 6.87% |
1978 | $179,827.88 | 7.59% |
1979 | $202,685.03 | 12.71% |
1980 | $234,905.34 | 15.90% |
1981 | $256,706.83 | 9.28% |
1982 | $267,102.70 | 4.05% |
1983 | $274,721.74 | 2.85% |
1984 | $284,337.35 | 3.50% |
1985 | $294,228.34 | 3.48% |
1986 | $298,336.20 | 1.40% |
1987 | $307,378.08 | 3.03% |
1988 | $319,059.09 | 3.80% |
1989 | $335,995.41 | 5.31% |
1990 | $353,275.96 | 5.14% |
1991 | $366,173.26 | 3.65% |
1992 | $373,861.16 | 2.10% |
1993 | $383,958.69 | 2.70% |
1994 | $396,075.73 | 3.16% |
1995 | $408,582.90 | 3.16% |
1996 | $419,644.29 | 2.71% |
1997 | $430,017.21 | 2.47% |
1998 | $439,541.02 | 2.21% |
1999 | $450,992.54 | 2.61% |
2000 | $466,850.26 | 3.52% |
2001 | $480,091.80 | 2.84% |
2002 | $492,071.14 | 2.50% |
2003 | $502,489.96 | 2.12% |
2004 | $510,200.80 | 1.53% |
2005 | $524,773.38 | 2.86% |
2006 | $540,860.59 | 3.07% |
2007 | $550,697.65 | 1.82% |
2008 | $564,117.04 | 2.44% |
2009 | $559,729.43 | -0.78% |
2010 | $564,492.03 | 0.85% |
2011 | $582,347.91 | 3.16% |
2012 | $594,713.94 | 2.12% |
2013 | $604,237.29 | 1.60% |
2014 | $610,784.17 | 1.08% |
2015 | $602,733.45 | -1.32% |
2016 | $611,534.37 | 1.46% |
2017 | $623,968.33 | 2.03% |
2018 | $639,298.91 | 2.46% |
2019 | $647,760.87 | 1.32% |
2020 | $654,357.09 | 1.02% |
2021 | $681,419.85 | 4.14% |
2022 | $737,346.87 | 8.21% |
2023 | $777,473.78 | 5.44% |
2024 | $782,391.74 | 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 |