According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 1,220.91% higher in 2024 versus 1920 (a $11,964,930.49 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, $980,000 in Detroit in the year 1920 would cost $12,944,930.49 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 $980,000 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 | $980,000.00 | 21.92% |
1921 | $889,252.23 | -9.26% |
1922 | $794,707.48 | -10.63% |
1923 | $818,248.74 | 2.96% |
1924 | $822,425.42 | 0.51% |
1925 | $827,361.49 | 0.60% |
1926 | $841,410.31 | 1.70% |
1927 | $827,361.49 | -1.67% |
1928 | $798,504.46 | -3.49% |
1929 | $797,745.06 | -0.10% |
1930 | $784,455.64 | -1.67% |
1931 | $691,809.38 | -11.81% |
1932 | $603,719.49 | -12.73% |
1933 | $542,967.84 | -10.06% |
1934 | $573,723.36 | 5.66% |
1935 | $604,478.88 | 5.36% |
1936 | $629,918.64 | 4.21% |
1937 | $665,610.23 | 5.67% |
1938 | $662,192.95 | -0.51% |
1939 | $639,411.08 | -3.44% |
1940 | $643,208.06 | 0.59% |
1941 | $683,456.02 | 6.26% |
1942 | $759,015.89 | 11.06% |
1943 | $800,402.94 | 5.45% |
1944 | $811,034.48 | 1.33% |
1945 | $832,677.26 | 2.67% |
1946 | $905,199.54 | 8.71% |
1947 | $1,031,638.90 | 13.97% |
1948 | $1,114,792.72 | 8.06% |
1949 | $1,100,364.20 | -1.29% |
1950 | $1,118,589.69 | 1.66% |
1951 | $1,206,299.88 | 7.84% |
1952 | $1,236,675.71 | 2.52% |
1953 | $1,258,698.18 | 1.78% |
1954 | $1,263,254.55 | 0.36% |
1955 | $1,260,976.37 | -0.18% |
1956 | $1,284,517.63 | 1.87% |
1957 | $1,322,107.71 | 2.93% |
1958 | $1,340,333.20 | 1.38% |
1959 | $1,339,953.51 | -0.03% |
1960 | $1,350,964.74 | 0.82% |
1961 | $1,358,558.70 | 0.56% |
1962 | $1,362,735.37 | 0.31% |
1963 | $1,376,024.80 | 0.98% |
1964 | $1,387,415.73 | 0.83% |
1965 | $1,419,310.34 | 2.30% |
1966 | $1,482,340.18 | 4.44% |
1967 | $1,532,080.59 | 3.36% |
1968 | $1,598,148.00 | 4.31% |
1969 | $1,695,350.64 | 6.08% |
1970 | $1,800,147.23 | 6.18% |
1971 | $1,865,834.95 | 3.65% |
1972 | $1,934,939.95 | 3.70% |
1973 | $2,060,999.61 | 6.51% |
1974 | $2,284,261.91 | 10.83% |
1975 | $2,454,366.52 | 7.45% |
1976 | $2,587,640.45 | 5.43% |
1977 | $2,765,339.02 | 6.87% |
1978 | $2,975,311.89 | 7.59% |
1979 | $3,353,490.90 | 12.71% |
1980 | $3,886,586.59 | 15.90% |
1981 | $4,247,299.50 | 9.28% |
1982 | $4,419,302.60 | 4.05% |
1983 | $4,545,362.26 | 2.85% |
1984 | $4,704,455.64 | 3.50% |
1985 | $4,868,105.39 | 3.48% |
1986 | $4,936,071.29 | 1.40% |
1987 | $5,085,672.22 | 3.03% |
1988 | $5,278,938.40 | 3.80% |
1989 | $5,559,155.37 | 5.31% |
1990 | $5,845,067.80 | 5.14% |
1991 | $6,058,457.96 | 3.65% |
1992 | $6,185,656.72 | 2.10% |
1993 | $6,352,723.75 | 2.70% |
1994 | $6,553,204.18 | 3.16% |
1995 | $6,760,139.48 | 3.16% |
1996 | $6,943,153.82 | 2.71% |
1997 | $7,114,777.22 | 2.47% |
1998 | $7,272,351.80 | 2.21% |
1999 | $7,461,821.00 | 2.61% |
2000 | $7,724,192.17 | 3.52% |
2001 | $7,943,277.80 | 2.84% |
2002 | $8,141,480.05 | 2.50% |
2003 | $8,313,862.84 | 2.12% |
2004 | $8,441,441.30 | 1.53% |
2005 | $8,682,549.40 | 2.86% |
2006 | $8,948,717.55 | 3.07% |
2007 | $9,111,475.01 | 1.82% |
2008 | $9,333,503.29 | 2.44% |
2009 | $9,260,908.87 | -0.78% |
2010 | $9,339,707.56 | 0.85% |
2011 | $9,635,139.02 | 3.16% |
2012 | $9,839,739.17 | 2.12% |
2013 | $9,997,306.16 | 1.60% |
2014 | $10,105,626.35 | 1.08% |
2015 | $9,972,424.56 | -1.32% |
2016 | $10,118,038.67 | 1.46% |
2017 | $10,323,762.73 | 2.03% |
2018 | $10,577,412.24 | 2.46% |
2019 | $10,717,418.21 | 1.32% |
2020 | $10,826,554.75 | 1.02% |
2021 | $11,274,317.16 | 4.14% |
2022 | $12,199,648.28 | 8.21% |
2023 | $12,863,561.26 | 5.44% |
2024 | $12,944,930.49 | 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 |