According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 1,220.91% higher in 2024 versus 1920 (a $8,790,561.18 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, $720,000 in Detroit in the year 1920 would cost $9,510,561.18 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 $720,000 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 | $720,000.00 | 21.92% |
1921 | $653,328.17 | -9.26% |
1922 | $583,866.72 | -10.63% |
1923 | $601,162.34 | 2.96% |
1924 | $604,230.92 | 0.51% |
1925 | $607,857.42 | 0.60% |
1926 | $618,179.00 | 1.70% |
1927 | $607,857.42 | -1.67% |
1928 | $586,656.33 | -3.49% |
1929 | $586,098.41 | -0.10% |
1930 | $576,334.75 | -1.67% |
1931 | $508,268.11 | -11.81% |
1932 | $443,549.01 | -12.73% |
1933 | $398,915.15 | -10.06% |
1934 | $421,511.04 | 5.66% |
1935 | $444,106.94 | 5.36% |
1936 | $462,797.37 | 4.21% |
1937 | $489,019.76 | 5.67% |
1938 | $486,509.10 | -0.51% |
1939 | $469,771.41 | -3.44% |
1940 | $472,561.02 | 0.59% |
1941 | $502,130.96 | 6.26% |
1942 | $557,644.32 | 11.06% |
1943 | $588,051.14 | 5.45% |
1944 | $595,862.07 | 1.33% |
1945 | $611,762.88 | 2.67% |
1946 | $665,044.56 | 8.71% |
1947 | $757,938.78 | 13.97% |
1948 | $819,031.38 | 8.06% |
1949 | $808,430.84 | -1.29% |
1950 | $821,821.00 | 1.66% |
1951 | $886,261.14 | 7.84% |
1952 | $908,578.07 | 2.52% |
1953 | $924,757.85 | 1.78% |
1954 | $928,105.39 | 0.36% |
1955 | $926,431.62 | -0.18% |
1956 | $943,727.24 | 1.87% |
1957 | $971,344.44 | 2.93% |
1958 | $984,734.60 | 1.38% |
1959 | $984,455.64 | -0.03% |
1960 | $992,545.52 | 0.82% |
1961 | $998,124.76 | 0.56% |
1962 | $1,001,193.34 | 0.31% |
1963 | $1,010,956.99 | 0.98% |
1964 | $1,019,325.84 | 0.83% |
1965 | $1,042,758.62 | 2.30% |
1966 | $1,089,066.25 | 4.44% |
1967 | $1,125,610.23 | 3.36% |
1968 | $1,174,149.55 | 4.31% |
1969 | $1,245,563.73 | 6.08% |
1970 | $1,322,557.15 | 6.18% |
1971 | $1,370,817.51 | 3.65% |
1972 | $1,421,588.53 | 3.70% |
1973 | $1,514,203.80 | 6.51% |
1974 | $1,678,233.24 | 10.83% |
1975 | $1,803,208.06 | 7.45% |
1976 | $1,901,123.60 | 5.43% |
1977 | $2,031,677.64 | 6.87% |
1978 | $2,185,943.43 | 7.59% |
1979 | $2,463,789.23 | 12.71% |
1980 | $2,855,451.38 | 15.90% |
1981 | $3,120,464.94 | 9.28% |
1982 | $3,246,834.56 | 4.05% |
1983 | $3,339,449.83 | 2.85% |
1984 | $3,456,334.75 | 3.50% |
1985 | $3,576,567.22 | 3.48% |
1986 | $3,626,501.36 | 1.40% |
1987 | $3,736,412.24 | 3.03% |
1988 | $3,878,403.72 | 3.80% |
1989 | $4,084,277.41 | 5.31% |
1990 | $4,294,335.53 | 5.14% |
1991 | $4,451,111.97 | 3.65% |
1992 | $4,544,564.12 | 2.10% |
1993 | $4,667,307.25 | 2.70% |
1994 | $4,814,598.99 | 3.16% |
1995 | $4,966,633.09 | 3.16% |
1996 | $5,101,092.60 | 2.71% |
1997 | $5,227,183.26 | 2.47% |
1998 | $5,342,952.34 | 2.21% |
1999 | $5,482,154.20 | 2.61% |
2000 | $5,674,916.70 | 3.52% |
2001 | $5,835,877.57 | 2.84% |
2002 | $5,981,495.54 | 2.50% |
2003 | $6,108,144.13 | 2.12% |
2004 | $6,201,875.24 | 1.53% |
2005 | $6,379,015.89 | 2.86% |
2006 | $6,574,568.00 | 3.07% |
2007 | $6,694,144.91 | 1.82% |
2008 | $6,857,267.73 | 2.44% |
2009 | $6,803,933.05 | -0.78% |
2010 | $6,861,825.96 | 0.85% |
2011 | $7,078,877.64 | 3.16% |
2012 | $7,229,196.13 | 2.12% |
2013 | $7,344,959.63 | 1.60% |
2014 | $7,424,541.81 | 1.08% |
2015 | $7,326,679.27 | -1.32% |
2016 | $7,433,661.06 | 1.46% |
2017 | $7,584,805.27 | 2.03% |
2018 | $7,771,160.02 | 2.46% |
2019 | $7,874,021.54 | 1.32% |
2020 | $7,954,203.49 | 1.02% |
2021 | $8,283,171.79 | 4.14% |
2022 | $8,963,006.90 | 8.21% |
2023 | $9,450,779.70 | 5.44% |
2024 | $9,510,561.18 | 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 |