According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 1,220.91% higher in 2024 versus 1920 (a $756,964.99 difference in value).
Between 1920 and 2024: Detroit experienced an average inflation rate of 2.51% per year. This rate of change indicates significant inflation. In other words, $62,000 in Detroit in the year 1920 would cost $818,964.99 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.67% during this same period, inflation in Detroit was lower.
In the year 1920: Pricing changed by 21.92%, which is significantly above the average yearly change in Detroit during the 1920-2024 time period. Compared to inflation for all items in 1920 (15.62%), inflation in Detroit was much higher.
Below are calculations of equivalent buying power in Detroit, over time, for $62,000 beginning in 1920. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1920 | $62,000.00 | 21.92% |
1921 | $56,258.81 | -9.26% |
1922 | $50,277.41 | -10.63% |
1923 | $51,766.76 | 2.96% |
1924 | $52,031.00 | 0.51% |
1925 | $52,343.28 | 0.60% |
1926 | $53,232.08 | 1.70% |
1927 | $52,343.28 | -1.67% |
1928 | $50,517.63 | -3.49% |
1929 | $50,469.59 | -0.10% |
1930 | $49,628.83 | -1.67% |
1931 | $43,767.53 | -11.81% |
1932 | $38,194.50 | -12.73% |
1933 | $34,351.03 | -10.06% |
1934 | $36,296.78 | 5.66% |
1935 | $38,242.54 | 5.36% |
1936 | $39,852.00 | 4.21% |
1937 | $42,110.03 | 5.67% |
1938 | $41,893.84 | -0.51% |
1939 | $40,452.54 | -3.44% |
1940 | $40,692.75 | 0.59% |
1941 | $43,239.05 | 6.26% |
1942 | $48,019.37 | 11.06% |
1943 | $50,637.74 | 5.45% |
1944 | $51,310.34 | 1.33% |
1945 | $52,679.58 | 2.67% |
1946 | $57,267.73 | 8.71% |
1947 | $65,266.95 | 13.97% |
1948 | $70,527.70 | 8.06% |
1949 | $69,614.88 | -1.29% |
1950 | $70,767.92 | 1.66% |
1951 | $76,316.93 | 7.84% |
1952 | $78,238.67 | 2.52% |
1953 | $79,631.93 | 1.78% |
1954 | $79,920.19 | 0.36% |
1955 | $79,776.06 | -0.18% |
1956 | $81,265.40 | 1.87% |
1957 | $83,643.55 | 2.93% |
1958 | $84,796.59 | 1.38% |
1959 | $84,772.57 | -0.03% |
1960 | $85,469.20 | 0.82% |
1961 | $85,949.63 | 0.56% |
1962 | $86,213.87 | 0.31% |
1963 | $87,054.63 | 0.98% |
1964 | $87,775.28 | 0.83% |
1965 | $89,793.10 | 2.30% |
1966 | $93,780.71 | 4.44% |
1967 | $96,927.55 | 3.36% |
1968 | $101,107.32 | 4.31% |
1969 | $107,256.88 | 6.08% |
1970 | $113,886.87 | 6.18% |
1971 | $118,042.62 | 3.65% |
1972 | $122,414.57 | 3.70% |
1973 | $130,389.77 | 6.51% |
1974 | $144,514.53 | 10.83% |
1975 | $155,276.25 | 7.45% |
1976 | $163,707.87 | 5.43% |
1977 | $174,950.02 | 6.87% |
1978 | $188,234.02 | 7.59% |
1979 | $212,159.63 | 12.71% |
1980 | $245,886.09 | 15.90% |
1981 | $268,706.70 | 9.28% |
1982 | $279,588.53 | 4.05% |
1983 | $287,563.73 | 2.85% |
1984 | $297,628.83 | 3.50% |
1985 | $307,982.18 | 3.48% |
1986 | $312,282.06 | 1.40% |
1987 | $321,746.61 | 3.03% |
1988 | $333,973.65 | 3.80% |
1989 | $351,701.67 | 5.31% |
1990 | $369,790.00 | 5.14% |
1991 | $383,290.20 | 3.65% |
1992 | $391,337.47 | 2.10% |
1993 | $401,907.01 | 2.70% |
1994 | $414,590.47 | 3.16% |
1995 | $427,682.29 | 3.16% |
1996 | $439,260.75 | 2.71% |
1997 | $450,118.56 | 2.47% |
1998 | $460,087.56 | 2.21% |
1999 | $472,074.39 | 2.61% |
2000 | $488,673.38 | 3.52% |
2001 | $502,533.90 | 2.84% |
2002 | $515,073.23 | 2.50% |
2003 | $525,979.08 | 2.12% |
2004 | $534,050.37 | 1.53% |
2005 | $549,304.15 | 2.86% |
2006 | $566,143.36 | 3.07% |
2007 | $576,440.26 | 1.82% |
2008 | $590,486.94 | 2.44% |
2009 | $585,894.23 | -0.78% |
2010 | $590,879.46 | 0.85% |
2011 | $609,570.02 | 3.16% |
2012 | $622,514.11 | 2.12% |
2013 | $632,482.63 | 1.60% |
2014 | $639,335.54 | 1.08% |
2015 | $630,908.49 | -1.32% |
2016 | $640,120.81 | 1.46% |
2017 | $653,136.01 | 2.03% |
2018 | $669,183.22 | 2.46% |
2019 | $678,040.74 | 1.32% |
2020 | $684,945.30 | 1.02% |
2021 | $713,273.13 | 4.14% |
2022 | $771,814.48 | 8.21% |
2023 | $813,817.14 | 5.44% |
2024 | $818,964.99 | 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 |