According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 1,355.71% higher in 2024 versus 1921 (a $515,169.67 difference in value).
Between 1921 and 2024: Detroit experienced an average inflation rate of 2.63% per year. This rate of change indicates significant inflation. In other words, $38,000 in Detroit in the year 1921 would cost $553,169.67 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.81% during this same period, inflation in Detroit was lower.
In the year 1921: Pricing changed by -9.26%, which is significantly below the average yearly change in Detroit during the 1921-2024 time period. Compared to inflation for all items in 1921 (-10.90%), inflation in Detroit was higher.
Below are calculations of equivalent buying power in Detroit, over time, for $38,000 beginning in 1921. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1921 | $38,000.00 | -9.26% |
1922 | $33,959.86 | -10.63% |
1923 | $34,965.84 | 2.96% |
1924 | $35,144.32 | 0.51% |
1925 | $35,355.25 | 0.60% |
1926 | $35,955.59 | 1.70% |
1927 | $35,355.25 | -1.67% |
1928 | $34,122.12 | -3.49% |
1929 | $34,089.67 | -0.10% |
1930 | $33,521.78 | -1.67% |
1931 | $29,562.77 | -11.81% |
1932 | $25,798.46 | -12.73% |
1933 | $23,202.39 | -10.06% |
1934 | $24,516.65 | 5.66% |
1935 | $25,830.91 | 5.36% |
1936 | $26,918.02 | 4.21% |
1937 | $28,443.21 | 5.67% |
1938 | $28,297.18 | -0.51% |
1939 | $27,323.65 | -3.44% |
1940 | $27,485.91 | 0.59% |
1941 | $29,205.81 | 6.26% |
1942 | $32,434.67 | 11.06% |
1943 | $34,203.25 | 5.45% |
1944 | $34,657.56 | 1.33% |
1945 | $35,582.41 | 2.67% |
1946 | $38,681.47 | 8.71% |
1947 | $44,084.54 | 13.97% |
1948 | $47,637.92 | 8.06% |
1949 | $47,021.35 | -1.29% |
1950 | $47,800.17 | 1.66% |
1951 | $51,548.25 | 7.84% |
1952 | $52,846.29 | 2.52% |
1953 | $53,787.36 | 1.78% |
1954 | $53,982.07 | 0.36% |
1955 | $53,884.71 | -0.18% |
1956 | $54,890.69 | 1.87% |
1957 | $56,497.01 | 2.93% |
1958 | $57,275.83 | 1.38% |
1959 | $57,259.61 | -0.03% |
1960 | $57,730.15 | 0.82% |
1961 | $58,054.65 | 0.56% |
1962 | $58,233.13 | 0.31% |
1963 | $58,801.02 | 0.98% |
1964 | $59,287.79 | 0.83% |
1965 | $60,650.73 | 2.30% |
1966 | $63,344.15 | 4.44% |
1967 | $65,469.68 | 3.36% |
1968 | $68,292.91 | 4.31% |
1969 | $72,446.63 | 6.08% |
1970 | $76,924.85 | 6.18% |
1971 | $79,731.85 | 3.65% |
1972 | $82,684.88 | 3.70% |
1973 | $88,071.73 | 6.51% |
1974 | $97,612.30 | 10.83% |
1975 | $104,881.30 | 7.45% |
1976 | $110,576.43 | 5.43% |
1977 | $118,169.94 | 6.87% |
1978 | $127,142.61 | 7.59% |
1979 | $143,303.16 | 12.71% |
1980 | $166,083.69 | 15.90% |
1981 | $181,497.87 | 9.28% |
1982 | $188,847.99 | 4.05% |
1983 | $194,234.84 | 2.85% |
1984 | $201,033.30 | 3.50% |
1985 | $208,026.47 | 3.48% |
1986 | $210,930.83 | 1.40% |
1987 | $217,323.65 | 3.03% |
1988 | $225,582.41 | 3.80% |
1989 | $237,556.79 | 5.31% |
1990 | $249,774.55 | 5.14% |
1991 | $258,893.25 | 3.65% |
1992 | $264,328.78 | 2.10% |
1993 | $271,467.98 | 2.70% |
1994 | $280,035.01 | 3.16% |
1995 | $288,877.88 | 3.16% |
1996 | $296,698.55 | 2.71% |
1997 | $304,032.45 | 2.47% |
1998 | $310,766.01 | 2.21% |
1999 | $318,862.51 | 2.61% |
2000 | $330,074.30 | 3.52% |
2001 | $339,436.38 | 2.84% |
2002 | $347,906.06 | 2.50% |
2003 | $355,272.42 | 2.12% |
2004 | $360,724.17 | 1.53% |
2005 | $371,027.33 | 2.86% |
2006 | $382,401.37 | 3.07% |
2007 | $389,356.40 | 1.82% |
2008 | $398,844.24 | 2.44% |
2009 | $395,742.09 | -0.78% |
2010 | $399,109.36 | 0.85% |
2011 | $411,733.89 | 3.16% |
2012 | $420,476.98 | 2.12% |
2013 | $427,210.21 | 1.60% |
2014 | $431,839.01 | 1.08% |
2015 | $426,146.96 | -1.32% |
2016 | $432,369.42 | 1.46% |
2017 | $441,160.53 | 2.03% |
2018 | $451,999.62 | 2.46% |
2019 | $457,982.43 | 1.32% |
2020 | $462,646.11 | 1.02% |
2021 | $481,780.13 | 4.14% |
2022 | $521,321.87 | 8.21% |
2023 | $549,692.55 | 5.44% |
2024 | $553,169.67 | 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 |